Leading motor vehicle manufacturers worldwide
In 2009, the global automotive industry was hit hard by the financial crisis of 2008-2009. Motor vehicle demand decreased in most regions, with the exception of emerging markets. Here, a growing middle class was becoming increasingly affluent and mobile.
Today, automobile production volumes are back to pre-crisis levels thanks to increased demand from both mature and emerging markets. Toyota, VW, Hyundai and GM were ranked as the largest manufacturers of automobiles worldwide in 2015. While Japan’s Toyota is projected to generate healthy profits for years to come, VW is currently finding itself in the middle of a scandal and General Motors is redefining itself. In recent years, both automaker were forced to announce recalls of several million vehicles. Defective ignition switches in GM vehicles have been linked to over 4,000 claims for compensation and more than 120 deaths. Furthermore, General Motors spun off its European brands in early 2017. However, America’s largest car company has proven remarkably resilient before, when it fought its way back from bankruptcy and filed for an initial public offering (IPO) in 2010 following a company restructuring. In 2014, the Michigan-based company rolled out more 4G LTE-equipped car models than any other OEM in the U.S., and the carmaker is expected to perform well in all regions over the next couple of years.