Global car market share
In August 2014, the ranking of the world’s largest automotive manufacturers was topped by Japan’s Toyota Motor Corporation, while Germany’s Volkswagen AG was ranked second. The European automaker‘s worldwide automobile market share will likely suffer losses in next year’s ranking. As a result of the Volkswagen diesel deception scandal that emerged in September 2015, the manufacturer of Audi, Skoda, SEAT, Bugatti, Bentley, Lamborghini, Porsche, Scania, VW commercial vehicles and VW passenger cars will be forced to recall at least 8.5 million vehicles that were fitted with a defeat device in their engines.
In light of growing environmental awareness and an increasing desire to connect vehicles to the internet, automotive manufacturers are faced with a variety of new challenges. Market trends such as the shift to lighter materials, as well as the trend towards electric vehicles and alternative fuel powertrains are set to revolutionize the industry. Palo Alto-based Tesla Motors is currently at the vanguard of this trend, while peer Californian companies such as Google and Apple may follow suit. Tesla is believed to have a U.S. automobile market share of between 0.1 and 0.2 percent.