Automobile Manufacturing Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 12/27/2022
SIC Codes: 3711
NAICS Codes: 33611
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Automobile Manufacturing Industry Profile

Companies in this industry engage in manufacturing complete automobile and light duty motor vehicles, as well as vehicle chassis only. Major companies include Ford, General Motors, and Tesla (all based in the US); along with Honda and Toyota (both based in Japan); SAIC Motor (China); Stellantis (the Netherlands); and Volkswagen (Germany).

The world's automakers face a rate of change unlike that of any other time in the industry's history. Digitalization, connectivity, evolving powertrain technologies, tougher regulations, and shifts in consumer attitudes have created unprecedented challenges as well as opportunities. In pursuit of sales growth, global automakers have invested heavily in emerging markets, but slower demand, especially in China, has highlighted the risks of these investments. Accurately assessing economic conditions in specific markets has become more important than ever for automakers.

Annual car sales grew to over 65 million in 2021, up from about 63 million in 2020, according to Statista. These figures reflect a downward trend due to the adverse economic effects of the COVID-19 pandemic. Demand in China will lead global growth but is slowing amid a cooling economy. Leading countries for car manufacturing include China, Germany, Japan, South Korea, and the US. Unit sales are highest in China, North America, and Western Europe.

The US automobile manufacturing industry includes about 230 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $300 billion.

 
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