- Judith Akatugba
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America has always had a strong enthusiasm for autos, and we do have a long history of producing automobiles because this is where mass manufacture of automobiles actually got its start. High car sales volumes and the vast majority of Americans owning a car are results of the country’s passion for automobiles. As a matter of fact, about two-thirds of American households own two or more cars, which contributes to the high need for vehicle storage in this country. Currently, there are about 3,500 locations in the US that offer car storage.
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When examining the American car industry in greater detail, it’s noteworthy to observe that several of the biggest producers are historic firms that essentially established the sector in this nation. Other international automakers have also prospered in the US consumer market.
The top ten car manufacturers in the US according to market share in 2022 are as follows:
1. General Motors — 17% market share
William C. Durant founded General Motors in 1908 in Detroit, Michigan, and the business has maintained its position as the nation’s largest carmaker ever since, with its headquarters still there. The corporation currently runs operations in eight countries and employs about 94K people in the United States alone. In an effort to remain competitive in the market, General Motors has once again demonstrated its ability to adapt to changing times by announcing plans to stop producing and selling cars with internal combustion engines by 2035.
2. Toyota Motor Company — 15% market share
The car firm was established in 1937 as a spinoff of Toyota Industries, which was established a few decades earlier in Japan. The corporate offices of the firm are in Toyota, Japan, and the headquarters of its 1957-founded American subsidiary are in Plano, Texas. The corporation employs about 176K people in manufacturing, support, and dealerships across 15 of its manufacturing plants in the United States. Top-selling vehicles from the manufacturer are the Tacoma, Corolla, Highlander, Camry, and RAV4.
3. Ford Motor Company — 14% market share
Established by Henry Ford in 1903, the Ford Motor Company is five years older than General Motors and has its headquarters located in Dearborn, Michigan. It’s interesting to note that the corporation opened its first overseas sales unit in Paris in 1908, just a few years after its founding, to expand its global reach. Currently, Ford Motor Company employs about 90K workers nationwide and runs 20 facilities in the United States. Bronco, E-Series, and EcoSport are a few of its best-selling vehicles.
4. Stellantis North America — 12% market share
There’s a strong chance you’re not familiar with Stellantis, as the firm was founded in 2021 and is a 50/50 merging of Peugeot’s parent company, PSA Group, and Fiat Chrysler Automobiles. With the help of this merger, one of the biggest automakers in the world and in the United States was formed, unifying popular auto brands like Fiat, Peugeot, Alfa Romeo, Citroen, Chrysler, Dodge, Jeep, and others under one corporate umbrella. Stellantis is developing new models and a network of charging stations as part of its ambitious plans for the rapidly expanding electric vehicle sector.
5. Hyundai Motor Group — 11% market share
The South Korean group came into being in 1998 when Hyundai acquired 51% of Kia. Hyundai Motor Company was established in 1967, whereas Kia was established more than twenty years before. However, the organization that emerged is extremely successful and a significant force in the global automobile sector. Nearly 280K individuals are employed by the firm globally, and over 30K in the United States. In the United States, the Tucson, Elantra, and Accent are among the most popular Hyundai models. The well-liked Forte, Optima, and Soul models are sold in the United States by Kia, a division of the Hyundai Motor Group. Hyundai’s commitment to innovation is evident in its future ambitions, which include developing new vehicles based on hydrogen fuel cells and exploring hydrogen fuel technology.
6. Honda Motor Corporation — 7.3% market share
The Japanese automaker Honda also succeeds in gaining a large portion of the American market. Honda was founded in 1948, and in 1959 it created a subsidiary in the United States. The American Honda Motor Company began producing motorcycles before stepping into the automotive industry in 1982. Currently, Honda has about 30,000 employees in the United States, and some of its best-selling models are the Civic, Accord, and CR-V.
7. Nissan Motor Co — 6.1% market share
Nissan, which made its formal U.S. debut as Datsun in 1958 after officially launching under its current name in 1933, is the second Japanese business to have maintained a steady presence in the American auto industry. At the moment, Nissan USA employs about 21,000 people in the United States, 16K of whom work in manufacturing. Recently, the Sentra, Altima, and Versa have been some of the company’s best-selling models.
8. Subaru Corporation — 4.1% market share
Subaru’s roots are in aviation rather than auto manufacturing; the firm was founded in 1917 as the Nakajima Aircraft firm. When the automotive branch took over as the primary business in 1953, the firm changed its name to Fuji Heavy Industries, which became Subaru Corporation in 2017. The carmaker, which has a factory in Lafayette, Indiana, has been present in the country since 1968. The Forester, Impreza, and Ascent are a few of its best-selling models.
9. Tesla — 4% market share
The first significant automaker to concentrate solely on electric automobiles is Tesla. In honor of renowned inventor Nikola Tesla, Martin Eberhard and Marc Tarpenning established the business in 2003 under the name Tesla Motors. A few months later, Elon Musk became the CEO of the business after paying $6.5 million to purchase the bulk of the shares. With its current headquarters located in Austin, Texas, the corporation employs around 100,000 people globally, with a steady percentage of those workers being employed in the United States. The best-selling cars for the firm are the Model Y, Model 3, and Model S.
10 Volkswagen Group — 3.6% market share
Volkswagen was founded in Wolfsburg, Germany, and began selling automobiles in the US in 1949. The headquarters of its American subsidiary are located in Herndon, Virginia; it was established in Englewood Hills, New Jersey, in 1955. Among the automaker’s best-selling models in the United States are the Tiguan Crossover, Atlas, and Jetta sedan.
