Since the economic crisis, the automotive industry has witnessed a stable 10-year growth, especially in the US and China. In 2019 only, 91.8 million vehicles were produced worldwide. However, this figure shows a 5% decline from the previous year and for that reason 2019 is the time when the ascending trendline is breached. At the beginning of 2020, hopes were high that the industry will resume its uptrend, yet the current events might strongly impede meeting these assumptions.
Initial impacts have been observed at the end of 2019 and January of 2020 as the largest part of the Chinese industry has followed the shutdown policy. A keen auto parts shortage occurred thereafter, putting a dent in the business. Regardless, as one of the world’s largest industries, it is expected that we stay resilient and live to see another day.
If you are looking to read more about prominent worldwide automotive players, look no further than the top 10 automotive companies by revenue in 2019 compiled below by Global Database. It should provide enough insight as a starting point to picture an overall image of global standings and perhaps help to build your own assumptions about upcoming trends.