In 2024, the global automotive industry witnessed significant shifts, with several brands achieving remarkable sales figures. Here's an overview of the top ten best-selling car brands of the year, along with insights into their backgrounds and market standings.
Toyota
Leading the global market, Toyota sold approximately 9.09 million vehicles in 2024, securing a 10.7% share of all global sales. Despite a slight year-on-year decline of 0.7%, the Japanese giant maintained its decade-long leadership in the industry.
Founded in 1937, Toyota has built a reputation for producing reliable and fuel-efficient vehicles, with models like the Corolla and Camry becoming household names. In 2023, Toyota’s revenue dropped slightly from the previous year’s revenue. According to the BrandValuer app, Toyota’s brand is worth an estimated $142.7 billion.
Volkswagen
Volkswagen secured the second position globally, with sales reaching 4.93 million units, accounting for a 5.8% market share.
Established in 1937, the German automaker is known for its diverse lineup, including popular models like the Golf and Passat, and has been a pioneer in automotive engineering and design. In 2023, VW brought in $349.94 billion in revenue. According to the BrandValuer app, Volkswagen’s brand is worth an estimated $125.4 billion.
Ford
In the United States, Ford remained the leading car brand, delivering about 2.1 million units to U.S. customers in 2024.
Globally, Ford's F-Series trucks continued their dominance, with the F-150 maintaining its position as America's best-selling vehicle for the 43rd consecutive year.
Founded in 1903, Ford revolutionized the automotive industry with assembly line production and continues to be a major player with a strong lineup of trucks and SUVs. In 2023 Ford pulled in $176 billion in revenue and according to the BrandValuer app has a brand worth estimate of $62 billion.
Chevrolet
Chevrolet's Silverado series secured the second spot in the U.S. truck market, with 542,517 units sold in 2024.
Established in 1911, Chevrolet offers a wide range of vehicles, from compact cars to heavy-duty trucks, with the Silverado being one of its flagship models known for durability and performance. In 2023, GM made in revenue. In 2023, GM filed a $171.8 billion in revenue, and according to the BrandValuer app, the car brand’s worth is estimated to be $60.7 billion
Honda
Honda's CR-V and Civic models remained popular among consumers, with the CR-V selling 402,791 units in the U.S.
Founded in 1948, Honda has a strong reputation for producing reliable and efficient vehicles, and has been at the forefront of motorcycle and automobile innovation. In 2023, Honda pulled in $136.43 billion. According to the BrandValuer app, Honda’s brand is worth an estimated $50.2 billion.
Tesla
Tesla's Model Y emerged as the best-selling electric vehicle in the U.S., with 405,900 units sold in 2024.
Founded in 2003, Tesla has been a leader in the electric vehicle market, known for its innovative technology and commitment to sustainable energy solutions. the company pulled in $96.7 billion in 2023 in revenue and according to the BrandValuer app has a brand worth an estimated $45.7 billion
Nissan
Nissan's Rogue continued to be a strong contender in the SUV market, with 245,724 units sold in the U.S.
Established in 1933, Nissan offers a diverse lineup of vehicles and has been a pioneer in electric vehicles with models like the Leaf. According to the BrandValuer app, Nissan’s brand worth is estimated to be $23.6 billion.
GMC
GMC's Sierra series maintained a strong presence in the truck market, with 324,734 units sold in 2024.
As a division of General Motors, GMC specializes in trucks and utility vehicles, known for their ruggedness and capability. GM’s extensive lineup includes well-known brands like Chevrolet, GMC, Cadillac, and Buick, catering to various market segments. In 2023 GM filed a $171.8 billion in revenue and according to the BrandValuer app, the car brand’s worth is estimated to be $60.7 billion
Ram
Ram's pickup trucks secured the fifth spot in U.S. vehicle sales, with 373,120 units sold in 2024.
Originally part of Dodge, Ram became a standalone brand in 2010, focusing exclusively on trucks and commercial vehicles, earning a reputation for power and performance. In 2023, Dodge brought in $14.1 billion in revenue. According to the BrandValuer app, Dodge’s brand worth is estimated to be $5 billion
Hyundai
Hyundai's Tucson made it to the top 15 best-selling vehicles in the U.S., with 206,126 units sold.
Founded in 1967, the South Korean automaker has rapidly expanded its global presence, offering a range of vehicles known for quality and affordability. In 2023, Hyundai pulled in $116.5 billion in revenue. With a history of reliability and innovation, Hyundai remains a safe bet for families and professionals alike. According to the BrandValuer app, Hyundai’s brand is estimated to be worth $56 billion.
In summary, 2024 showcased the resilience and adaptability of these automotive brands, with a mix of traditional manufacturers and newer entrants like Tesla making significant impacts in the market. The continued popularity of trucks and SUVs, alongside the growing acceptance of electric vehicles, highlights the evolving preferences of consumers worldwide.
