Top 19 BMW Competitors (Updated in 2023)

The top BMW Competitors are Audi, Mercedes, Jaguar, Volvo, Lexus, Skoda, Honda, Hyundai, Range rover and others. A multinational automobile company, Bayerische Motoren Werke (BMW) is headquartered in Munich, Germany. The main business operations of BMW are the production of automobiles and motorcycles. It is 4^th in the world for the production of the motor vehicle. As of August 2023 BMW has a market cap of $72.84 Billion.

It produces electric cars as well. Their vehicles fall under three main categories BMW M for the performance model, BMW I for the electric cars and BMW Motorrad for motorcycles.

The three main brands of the company are BMW, Mini, and Rolls-Royce. The company has an excellent research team who focus on technology and brings out new products on regular basis. The BMW vehicles provide an excellent driving experience, perfect engineering, and are technology-oriented.

Since it is the most wanted and a popular brand in the automobile industry, it does have a lot of competitors. Through this article, let us discuss the top BMW competitors.

Top 19 Competitors of BMW:

1) Audi

Founded: 16 July 1909
Founders: August Horch
Headquarters: Ingolstadt, Germany
Production output: 1.7 million cars (2022)
Revenue: 16.9 EUR billion (March 2023)
Number of employees: more than 90,000
Market capitalization: $82.99 Billion (August 2023)
Parent: Volkswagen Group

A top BMW competitor, Audi is an international company responsible for the design, production, and sale of luxury vehicles. The company was established during the year 1910 and is headquartered in Germany. The company has about 21 production units across 12 countries.

It has a many luxury and comfortable cars that exhibit good performance in their engine. Audi cars are placed in a high position in the market and their main target groups are rich executives and professionals. The various brands of Audi are Audio A1, A3, A4, A5, A6, A7, A8, Q3, Q5, Q7, R8, and TT. These cars are available in petrol and diesel. Audi’s car ranges from hatchback to luxury SUVs.

Audi cars are equipped with many unique and strong features like parking sensors, LED illuminated interiors, Airbags, etc. It has the latest technologies like Quattro and FSI to increase the performance of the engine and due to which Audi is a strong BMW competitor.

According to the Audi Report 2022, the Audi Group delivered 1.61 million Audi vehicles, 15,174 Bentley vehicles, 9,233 Lamborghini vehicles, and 61,562 Ducati motorcycles to customers. Globally, Audi delivered 118,196 electric models to customers in 2022 — a 44.3% increase but only 7% of all Audis sold worldwide in 2022.

2) Mercedes

Founded: November 2019
Headquarters: Stuttgart, Germany
Production output: over two million vehicles (2022)
Revenue: $40.270B (March 31, 2023)
Number of employees: 168,797 (2022)
Market capitalization: $80.59B (August 14, 2023)
Parent: Mercedes-Benz Group

Also a top BMW competitor, Mercedes Benz is an international automotive industry that was established during the year 1926 and is headquartered in Germany. It is a division of a German company named Daimler AG. This brand has a strong association with celebrities and is the most luxury brand in the automotive industry.

The various products of this brand are automobiles, trucks, buses, internal combustion engines, and luxury vehicles. In its two business divisions, Mercedes-Benz AG is continually expanding its worldwide production network with around 35 production sites on four continents. The brand is always popular for its technological advancement that starts from the introduction of the internal combustion engine to pre-safe technology. In 2022, the top selling model of Mercedes Benz was The GLC SUV in the US. In 2022 it sold nearly 2.45 million vehicles.

The company has a strong financial position and is a leading brand in the market. Each and every vehicle that the company produces shows advancement in technology. Their vehicles are produced with great concern for safety. This brand has a stronghold in the developing nation.

3) Jaguar

Founded: September 1935
Headquarters: Whitley, Coventry, England
Production output: 376,381 (2022) (Jaguar and Land Rover)
Revenue: £22.80 billion (2023)
Parent: Tata Motors

A popular luxury vehicle brand, Jaguar was established during the year 1935 and is headquartered in the United Kingdom. It is produced by Jaguar Land Rover. The company manufactures ultra-premium cars that are famous for luxury and beauty.

Jaguar cars are costly and are bought over by Tata Motors. The company’s designers and engineers have developed a mixture of reactive performance that produces an intense design which triggers people to stop and stare. Jaguar is a popular brand, the company has managed itself to stay away from scandals thereby having a positive brand image among the customers.

4) Volvo

Founded: 1927
Founders: Assar Gabrielsson and Gustav Larson
Headquarters: Gothenburg, Sweden
Production output: 615,000 (2022)
Revenue: 473.479 billion kr (2022)
Number of employees: over 102,155 (2022)
Market capitalization: $41.84 Billion (August 2023)

Volvo is a popular manufacturing company that was established during the year 1927 and is headquartered in Gothenburg, Sweden. Its main activities are the production, distribution, and sale of buses, trucks, and construction equipment; it also supplies industrial and marine drive systems.

The company also produces sedan vehicles, sport utility vehicles, marine, industrial engines, and construction equipment. Volvo cars have about 2,300 dealers and their vehicles are sold worldwide. Volvo focuses on quality and durability of cars by taking the utmost care with the materials used in its manufacturing. As of 2022, it has plants in 19 countries, with 10 other countries having independent assemblers of Volvo products.

During the first five months of 2023, the company sold 275,312 cars. In full-year 2022, Volvo global sales contracted by 12% to 615,121 cars with the XC60 against the most-popular model worldwide.

The company has a diverse portfolio and hence it is well balanced for their business operations and provides end-to-end solutions. It has a leading position in their business segments. The company focuses strongly on research and development and invests a huge amount on it. By maintaining a strong R&D it has always maintained a competitive edge over the competitors and because of this, Volvo is considered one of the top BMW competitors.

5) Lexus

Founded: 1989
Founders: Eiji Toyoda
Headquarters: Nagoya, Japan
Revenue: US$23bn (projected 2023)
Parent: Toyota

Yet another strong BMW competitor, Lexus is a luxury vehicle manufacturing company that was established during the year 1989 and is headquartered in Nagoya, Japan. The brand is marketed in more than 90 countries worldwide. Lexus is the largest seller of premium cars in Japan and is ranked in top amongst the Japanese global brands in market value.

Their business operations are located in Belgium, Texas, and Brussels. The cars of Lexus are associated with rich features, most of them being cutting-edge technology, high-end styling, impeccable, and exceptionally smooth driving.

Lexus’s unique collection of models has moved the entire automobile industry forward. These cars are popular for their great design, reliability, and it adheres to strict quality norms. It has a prime consideration for innovation and has researched in areas like robot-driver cars, interconnected traffic and safety systems, alternate energy vehicles and many more.

Lexus division posted March sales of 26,357 vehicles, up 12.1 percent on a volume and DSR basis. For the quarter, Lexus division reported sales of 68,252 vehicles, up 6.0 percent on a volume and DSR basis.

6) Skoda

Founded: 1925
Founders: Václav Laurin and Václav Klement
Headquarters: Mladá Boleslav, Czech Republic
Production output: 780,000 (2022)
Revenue: 6.8 billion euros (Q3, 2023)
Parent: Volkswagen Group

Skoda is an automobile industry that was established during the year 1895 and is headquartered in Czech Republic. It is a leading car manufacturer and is popular for their excellent products like Octavia, Laura, and Yeti.

The company always provides top-quality products and services to their customers. The company provides vans, cars, trucks, and sport utility vehicles along with maintenance services. Their cars are preferred by customers and it maximizes their sales. Their cars are a comfortable, elegant, spacious, and smooth performer. Skoda cars are available in petrol and diesel. It has spacious interiors and passenger space both front and rear.

The top-selling Skoda models in full-year 2022 were the Octavia (215,000 units), Rapid (128,000 units), and Kamiq (82,000 units).

Their cars are produced with great technologies like EBS, telescopic power steering, MSR, anti-skid breaking and many more. Due to their great advertising and branding, Skoda is popular worldwide and due to which it is indeed a top BMW competitor.

7) Honda

Founded: October 1946
Founders: Soichiro Honda
Headquarters: Minato, Tokyo, Japan
Production output: 3,870,161 (2022)
Revenue: $33.762B (June 30, 2023)
Number of employees: 204,035 (2022)
Market capitalization: $52.82B (August 14, 2023)

Honda is a well-known brand in the automotive industry. The company was established during the year 1946 and is headquartered in Tokyo, Japan. It leads the manufacturing of high-powered vehicles worldwide. The company designs, manufactures, and sells vehicles and also provides after-sales service to their customers.

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The company is the largest manufacturer in internal engine combustion and approximately produces about 14 million internal combustion engines per year. The company has an excellent research and development wing that also strives hard to provide great vehicles. The vehicles of Honda are highly technology-oriented and they see a lot of customers to purchase them.

Honda net income for the quarter ending June 30, 2023 was $2.650B. In 2022, Honda built a total of 3,870,161 vehicles worldwide, which was a 6.4 percent decrease from the previous year. Honda’s best-selling model in the United States in 2022 was the CR-V, with 238,155 units delivered. The passenger car production of Honda worldwide as of October 2022 was 3.28 million cars.

The company comes up with unique designs which are a great hit in the market. Over the years, Honda has produced hit products and due to which it is indeed a top BMW competitor.

8) Hyundai

Founded: 29 December 1967
Founders: Chung Ju-yung
Headquarters: Seoul, South Korea
Production output: 322,767 (April 2022)
Revenue: KRW 42.25 trillion (Q2, 2023)
Number of employees: 120,000 +
Market capitalization: $19.02B (August 14, 2023)
Parent: Hyundai Motor Group (2000–present)

Also a top BMW competitor, Hyundai is a South Korean multinational automotive manufacturing company that was established during the year 1967 and is headquartered in Seoul, South Korea. The company was initially formed as a construction company and over the years, the company has faced many restructuring and currently named as Hyundai Motor Company. As of 2022, Hyundai is the world’s third-largest carmaker in terms of production, behind Toyota and Volkswagen.

It designs, produces, and sells vehicles worldwide. Their vehicles are produced with great care so that it becomes the lifetime companion for the customer. The company has huge brand equity and is the largest exporter of cars in the Asian market. Hyundai Motor sold 1,059,713 units around the globe in the second quarter of 2023. Its net profit (including non-controlling interest) also was up 8.5 percent to KRW 3.35 trillion. Sales of full electric models jumped 47% Y/y to nearly 78,000 units.

Their cars are produced with great care and generate quality products. Hyundai produces about eight products starting from small car segments like Eon to SUV segments. Each of their vehicles comes up with excellent design and safety features.

9) Range Rover

Founded: 1948
Manufacturer: Jaguar Land Rover
Headquarters: United Kingdom
Revenue: £22.80 billion (2023) (Jaguar Land Rover Group)
Number of employees: 42,000

Range Rover is a luxury car brand that was formed during the year 1948. At present, it is in the umbrella of Jaguar Land Rover and is owned by Tata motors since 2008. It is one of the top-selling all-terrain vehicles worldwide. Range Rover brand is an icon in luxury SUVs and their vehicles have displayed immense strength and flexibility across multiple terrains.

The Range Rover, a luxury SUV, is part of the Jaguar Land Rover Group, a subsidiary of Tata Motors. Tata Motors acquired Jaguar Land Rover from Ford Motor Company in 2008 for $2.3 billion. Tata Motors, specifically through its holding company Tata Sons Pvt Limited, holds the majority stake in the company with 46.33% ownership.

Net income of Jaguar Land Rover Group is £60.2 million (2023). Its Operating income is £544.1 million (2023).

It has also won many prestigious awards for the vehicle’s performance. The main strength of this vehicle is the rich heritage that it carries which is closely associated with its brand image. Having a close association with Jaguar has increased its credibility. Range Rover cars are environment-friendly and possess low emissions. Their cars carry a superior design with attractive interiors.

The company has been doing good research and focus on new technologies like machine learning, IOT, data connectivity etc. Due to their rich heritage of cars and its close link with Jaguar, Range Rover is indeed a top BMW competitor.

10) Toyota

Founded: August 28, 1937
Founders: Kiichiro Toyoda
Headquarters: Toyota City, Aichi, Japan
Production output: 8.69 million units( March 2023)
Revenue: $76.992B (June 30,2023)
Number of employees: 375,235 (2023)
Market capitalization: $225.85B (August 14, 2023)
Parent: Toyota Group

Toyota is an automotive manufacturing company that was established during the year 1937 and is headquartered in Aichi, Japan. It produces various innovative vehicles that meet the requirement of the market. The company has a stronghold in research so that it produces motor-powered vehicles.

Toyota’s various products include cars, hybrids, SUVs, and 4WDs. Toyota is the dominant leader in the world car group ranking in 2023, with cumulative data up to April 2023 showing that they sold 3.4 million vehicles and maintained a substantial distance from the runner-up, Volkswagen. The company approximately produces 10 million vehicles per year. Toyota’s main strength is the huge human power worldwide. Also in 2022, Toyota managed to maintain its position as the world’s best-selling automaker for the third year in a row.

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Having a strong brand image, their vehicles are looked upon as while people make their choice at the time of purchase. Using great technology, the company produces the vehicles to meet the rising demands of technology. Its unique design, popularity worldwide and their customer service, have bought Toyota as a top BMW competitor.

11) Dodge

Founded: December 14, 1900
Founders: John Francis Dodge and Horace Elgin Dodge
Headquarters: Auburn Hills, Michigan, U.S.
Revenue: US$8.7 billion (2022)
Parent: Stellantis North America

An American brand of automobile manufacturing company, Dodge was formed during the year 1900 and is headquartered in Michigan, United States. It is famous for its sports cars, hatchbacks, minivans, sedans, and SUV’s. Initially, the company has started by making spare parts and assembles units for various automobiles, but gradually they started producing their own vehicles.

Ever since its formation, Dodge vehicles are popular for their durability and performance. The popular models are Viper, Challenger, Charger, Durango, etc. Dodge vehicles have been a great association with the American sentiment and due to which it has a huge visibility among them. Dodge sold 55,060 Challengers in 2022, which represents about a one percent increase over the 54,314 Challengers sold in 2021.

Dodge vehicles have been consistent in the positioning of the all-terrain vehicle wherein each version has something new to provide. It has been positioned as a performance vehicle and has a strong association with youth.

12) Jeep

Founded: 1943
Founders: Willys-Overland
Headquarters: Michigan, USA
Revenue: US$42.0 billion (2022)
Parent: Stellantis

A popular brand of American automobile industry, Jeep is headquartered in the United States. The company produces sports vehicles and off-road vehicles. Jeep produces two main models namely the standard and the limited edition model.

Jeep has a strong brand image and has a good reputation among the customers. The design of the vehicles shows the volume of the brand and is also associated with ruggedness and reliability. Their vehicles have excellent towing capabilities and are identified as a very adventurous branded vehicle.

Due to their strong image and its iconic design, Jeep is a top BMW competitor.

13) Porsche

Founded: 1931
Founders: Ferdinand Porsche
Headquarters: Stuttgart, Germany
Production output: 321,321 vehicles (2022)
Revenue: €37.630 billion (2022)
Number of employees: 39,162 (2022)
Market capitalization: $104.02 Billion (August 2023)

Porsche is a German automobile manufacturer specializing in high-performance sports cars, SUVs and sedans, headquartered in Stuttgart, Baden-Württemberg, Germany. Porsche believes that its iconic brand is synonymous with design and engineering heritage, racing legacy, performance, modern and sustainable luxury, prestige, innovation, technological achievement and reliability.

The company is owned by Volkswagen AG. Of the 321,321 vehicles produced in 2022, 41,947 were 911 models,18,080 were 718 Boxster/Cayman models, 91,117 were Macans, 98,113 were Cayennes,35,241 were Panameras and 36,823 were Taycan models. Its net income was €4.957 billion.

14) Volkswagen

Founded: 28 May 1937
Founders: German Labour Front by Adolf Hitler
Headquarters: Wolfsburg, Germany
Production output: 8.7 million (2022)
Revenue: $81.791B (March 31, 2023)
Number of employees: 669,275 (2022)
Market capitalization: $43.97B (August 15, 2023
Parent: Volkswagen Group

Volkswagen is a German motor vehicle manufacturer that was founded in 1937 by the Nazi Party to make a low-priced “people’s car”. It is the flagship brand of the Volkswagen Group, which also sells cars under other names like Audi, Porsche, and Lamborghini. The Volkswagen Group is the largest automotive manufacturer by worldwide sales and has the biggest market share in Europe. It also makes motorcycles, engines, and commercial vehicles, and offers financing, leasing, and fleet management services. Its headquarters are in Wolfsburg, Germany.

The group’s biggest market is in China, which delivers 40 percent of its sales and profits. The Volkswagen brand produces various models which consists of global products and regional products, specifically for large markets including Europe, China and Latin America. The VW Tiguan was the most popular Volkswagen model in the USA in 2022.

Volkswagen’s net income recorded was $4.518B for the quarter ending March 31, 2023.

15) General Motors

Founded: September 16, 1908
Founders: William C. Durant, Charles Stewart Mott and Frederic L. Smith
Headquarters: Michigan, U.S.
Production output: 5,939,000 vehicles (sales, 2022)
Revenue: $44.746B (June 30, 2023)
Number of employees: 167,000 (2022)
Market capitalization: $46.88B (August 14, 2023)

General Motors Company (GM) is an American corporation that designs, builds, and sells vehicles and parts under various brands in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China . It also provides financial services through GM Financial . It was founded in 1908 by William C. Durant and has its headquarters in Detroit, Michigan. Some of its major brands include Buick, Cadillac, Chevrolet, GMC, Pontiac, Hummer, Saab, Opel, Vauxhall, and Holden.

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In May 2023, GM announced the creation of GM Envolve. As of January 2023, GM is ranked 25th on the Fortune 500 rankings of the largest United States corporations by total revenue. General Motors Company net income was $2.540B for the quarter ending June 30, 2023.

16) Nissan Motor

Founded: 26 December 1933
Founders: Masujiro Hashimoto
Headquarters: Japan
Production output: 3,250,800 units (2022)
Revenue: $23.633B (March 31, 2023)
Number of employees: 134,111 (2023)
Market capitalization: $16.49B (August 15, 2023)
Owner: Renault (43.4% cross ownership)

Nissan Motor Co., Ltd. is a Japanese multinational automobile manufacturer headquartered in Yokohama, Japan. Nissan is a pioneer in electric vehicles and has invested in charging infrastructure and energy management. Nissan manufactures automobiles, trucks, and buses under the names Nissan and Datsun, and also designs and manufactures communications satellites, pleasure boats, and machinery.

The most popular Nissan car models are the Nissan Rogue and the Nissan Altima. These models have consistently been popular among consumers due to their reliability, practicality, and value for money.

In the first quarter of 2023, Nissan Group announced total U.S. first quarter sales for 2023 of 235,818 units, an increase of 17.3% versus the prior year. Nissan Motor net income for the quarter ending March 31, 2023 was $0.795B.

17) Tesla

Founded: July 1, 2003
Founders: Martin Eberhard and Marc Tarpenning
Headquarters: Texas, U.S.
Production output: 1,369,611 vehicles (2022)
Revenue: $24.927B (June 30, 2023)
Number of employees: 127,855 (2022)
Market capitalization: $761B (August 14, 2023)

Tesla, Inc. is an American multinational automotive and clean energy company headquartered in Austin, Texas. The company was founded in 2003 by Martin Eberhard and Marc Tarpenning as Tesla Motors, and named after inventor and electrical engineer Nikola Tesla. Elon Musk became the largest shareholder of the company in 2004 and has served as CEO since 2008. Tesla has become one of the most valuable and influential companies in the world, with a market capitalization of over $700 billion as of 2023.

Tesla is one of the world’s most valuable companies and, as of 2023, is the world’s most valuable automaker. In 2022, the company led the battery electric vehicle market, with 18% share. Tesla’s manufacturing locations are on three continents and three countries while serving +40 markets.

Tesla’s 2022 deliveries were around 1.31 million vehicles, a 40% increase over the previous year, and cumulative sales totaled 4 million cars as of April 2023. Tesla net income for the quarter ending June 30, 2023 was $2.703B.

18) Ferrari

Founded: 13 September 1939
Founders: Enzo Ferrari
Headquarters: Maranello, Emilia-Romagna, Italy
Production output: 13,221 units shipped (2022)
Revenue: $1,607 (June 30, 2023)
Number of employees: 4,919 (2022)
Market capitalization: 57.18B (August 15, 2023)

Ferrari is an Italian luxury sports car manufacturer that produces high-end and high-performance racing cars, supercars, and sports cars. Ferrari was founded in 1929 by Enzo Ferrari as a racing team. Ferrari’s cars are known as symbols of success, wealth, speed, elegance, sportiness, and prestige. The company offers a large model range which includes several supercars, grand tourers, and one SUV. Ferrari is currently a subsidiary of Ferrari N.V. and was spun off from Fiat Chrysler Automobiles in 2016.

Ferrari’s Prancing Horse logo stands for quality, performance, exclusivity, design, and uncompromised craftsmanship. Some of Ferrari’s popular products include the Ferrari 488 GTB, Ferrari 812 Superfast, Ferrari F8 Tributo, and Ferrari SF90 Stradale.

Ferrari Quarterly Net Income as of June 30, 2023 was $363 million.

19) McLaren

Founded: 2 December 1985
Founders: Bruce McLaren
Headquarters: England, UK
Production output: 2,188 units (2022)
Revenue: £ 135 m (Q1, 2023)
Number of employees: 2,475 (2022)
Parent: McLaren Group

McLaren is a British luxury automotive manufacturer that produces high-performance supercars. McLaren was founded in 1963 by Bruce McLaren, a New Zealand racing driver. The company was originally owned by the Bruce McLaren Motor Racing company. McLaren’s main products are supercars, which are produced in-house in designated production facilities. The company is known for its precision engineering and high-level performance.

Some of McLaren’s popular products include the McLaren F1, 720S, 765LT, and Artura. McLaren has achieved numerous other notable achievements in motorsports, including victories in the 24 Hours of Le Mans, the 12 Hours of Sebring, and the Bathurst 1000. The team has also been successful in various other racing categories, such as GT racing and endurance racing.

Conclusion

BMW makes use of the latest technology in their vehicles to ease the drivers. It takes every effort to beat the above-mentioned competitors.

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