The Asia-Pacific is home to the biggest assembly plants worldwide, while the largest passenger vehicle production markets include China, Germany, India, Japan, South Korea, and the United States. China is the leading car manufacturing country in the world - especially for passenger cars. Despite experiencing a slump in production amid the COVID-19 pandemic, its global market share in auto production was over 30 percent in 2021.
Types of motor vehicles and their major producers
Passenger cars make up the most significant portion of motor vehicles produced worldwide, followed by light commercial vehicles. While China exported over 1.6 million passenger cars in 2021 and remains the major passenger car-producing country in the world, the United States is currently the leading commercial vehicle producer worldwide. Conversely, Asia-Oceania continues to be the largest market for heavy truck production, with over 3.3 million units built here in 2021.As of 2021, Toyota was the leading motor vehicle manufacturer in the world, followed closely by the Volkswagen Group. Daimler, a German multinational motor vehicle manufacturer, headquartered in Stuttgart, led heavy truck production. Though not one of the top automakers in the world neither in sales volume nor revenue, Tesla's brand value took the lead in the ranking of most valuable automotive brands worldwide in 2021.
Electric vehicle production
The famed American electric vehicle automaker Tesla held the top position in the global plug-in electric vehicle market in 2021, followed by the Volkswagen Group and BYD, a Chinese design and manufacturing automotive company. Electric vehicle production has been steadily rising in the past decade, and lithium-ion battery pack costs have consistently fallen throughout the same period. As environmental concerns grow, the demand for electric vehicles keeps trending upward, aided by plans and strategies created and backed by governments across the globe to promote the purchase of zero-emission vehicles.
