The automotive industry has reinvented itself over the past few decades. If you compare the designs of today’s top vehicles with earlier ones, you will find jaw-dropping differences. During the increasing market competition and evolving customer demands, some of the top automobile companies in USA have managed to stay relevant and cater to the industry needs with their innovation-driven features.
The USA is one of the most tech-savvy countries around the world and has always encouraged business and entrepreneurship. Likewise, several other factors have made the country preferable for automobile manufacturers. While several foreign companies have started their manufacturing plants in the USA of late, automobile companies based in the USA are still managing to stand out in the rigorous competition. In this blog, we have compiled a list of the 5 top automobile companies in USA in 2024.
1. GMC
- Founded in: 1900
- Headquarters: Detroit, Michigan
- Popular/Bestselling Models: GMC Sierra, GMC Canyon, GMC Terrain
Formerly known as General Motors Truck Company or GMC Truck & Coach Division, GMC is an American automobile manufacturer that specializes in trucks, vans, and SUVs. It is a division of General Motors (GM), one of the largest automakers in the world. While specific revenue figures for GMC are still not publicly disclosed, the brand’s strong sales performance implies continued significant contributions to General Motors’ overall revenue. GMC enjoyed a strong start to 2023, with Q3 sales of 142,768 vehicles in the US jumping 19% compared to the same period in 2022. According to the latest reports, GM’s revenue for the twelve months ending September 30, 2023, was $171.970 billion, a 16.82% increase year-over-year. GM also raised its full-year guidance for 2023, boosting its profit estimates to between $11 billion and $13 billion based on strong sales and higher margins. GMC’s best-selling vehicles in 2023 are the Sierra, the Acadia, and the Yukon.
GMC is a well-established and respected brand in the automotive industry, with a loyal customer base and a strong reputation. GMC plans to launch new models and variants soon, such as the Sierra 3500 Pro, the Savana 2500 LS, and the Sierra 1500 Limited SLT. It is committed to creating a sustainable, clean-energy future by investing in electric and hybrid vehicles, as well as reducing its environmental impact.
GMC has announced its goal to go all-electric by 2035 and phase out gas and diesel engines. GMC is planning to launch several electric vehicles in the near future, based on GM’s new Ultium Platform. The list includes the Hummer EV Pickup, Hummer EV SUV, and GMC Sierra EV Denali Edition 1.
2. TESLA INC
- Founded in: 2003
- Headquarters: Austin, TX
- Popular/Bestselling Models: Tesla Model 3, Tesla Model Y, Tesla Model S/X
Popularly known for designing affordable electric cars, Tesla is certainly one of the pioneers of the EV revolution around the world. The company manufactures electric cars, solar panels, and clean energy storage. Tesla currently ranks 6th on the list of the world’s most valuable companies. Moreover, its subsidiary, Tesla Energy, is a major developer and supplier of photovoltaic systems in the United States. It also operates a network of charging stations, service centers, and showrooms around the world. Autopilot and Full Self-Driving (FSD) features enhance the driving experience and are some of the most advanced car features offered by Tesla.
Tesla is the market leader in battery-electric vehicle sales, with an 18% global market share in 2022. Therefore, Tesla Motors remains the top car company in USA for electric vehicles. Its flagship models include the Model S, Model 3, Model X, Model Y, Cybertruck, and Roadster. Tesla also operates a network of charging stations, service centers, and showrooms around the world. Currently, Model 3 and Model Y are the most selling EVs for Tesla.
Talking about sales in 2023, the company managed to keep them at around 1.3 million in the first three quarters. It is estimated to reach 1.8 million by the end of 2023. As per the market data, Tesla had a market cap of around $760 billion in December 2023.
3. FORD MOTOR COMPANY
- Founded in: 1903
- Headquarters: Dearborn, Michigan
- Popular/Bestselling Models Ford Mustang, Ford Fiesta, F-series Trucks,
Founded by Henry Ford in 1903, Ford Motor Company is the second-largest among the top automobile companies in USA, preceding General Motors. The company produces and sells automobiles and commercial vehicles under the Ford brand and, subsequently, luxury vehicles under the Lincoln brand. In addition, Ford has come up with new, innovative designs catering to the needs of modern customers. The company is also actively investing its efforts in EVs. Ford has committed $50 billion to EV development by 2026. Ford plans to launch several new EVs globally by 2025, including electric versions of existing SUVs like the Explorer and Bronco. Furthermore, it aims to maintain its truck leadership while increasing diversity in SUV offerings and further pushing electrification across all segments.
Through Q3 2023, Ford has sold 497,108 vehicles in the US, generating revenue of $117.2 billion globally. The US remains Ford’s top market, representing over 58% of total sales. China follows at 15%, with Europe and South America contributing smaller percentages. Trucks continue to lead Ford’s revenue generation, with the F-Series alone contributing over 30% in 2023. SUVs make up another 25%, while cars like the Mustang bring in around 12%. To further enhance the environment-friendly approach, Ford plans to increase its EV sales by up to 40% by 2030. The numbers clearly highlight that Ford is among the top automotive companies in USA.
4. Jeep
- Founded in: 1943
- Headquarters: Toledo, Ohio
- Popular/Bestselling Models: Jeep Grand Cherokee, Jeep Wrangler, Jeep Renegade
Popular/Bestselling Models: Compass, Meridian, Wrangler, Compass Trailhawk, and Grand Cherokee.
Jeep is an American company specializing in making Sports Utility Vehicles (SUVs). Previously owned by American Motors Corporation (AMC), the company was acquired by Chrysler in 1987. Now it is owned by the multinational corporation Stellantis. Jeep’s history dates back to 1941 when it was developed as a light military 4×4 vehicle for World War II. The name Jeep was derived from either the term General Purpose (GP) vehicle or Eugene the Jeep, a character from the Popeye comic strip. After the war, Jeep started producing civilian models, such as the CJ (Civilian Jeep), the Wagoneer, and the Cherokee.
Jeep previously manufactured pickups, small vans, and a few roadsters. However, the company has evolved with changing market conditions, and its current product range includes solely SUVs—both crossovers and fully off-road-worthy vehicles. Jeep’s current product range consists of sport utility vehicles (SUVs), crossovers, fully off-road capable models, and one Gladiator pickup truck. Some of Jeep’s vehicles, such as the Grand Cherokee, reach into the luxury SUV segment.
Jeep’s upcoming models are worth exploring. They offer a glimpse into the brand’s future direction and could shake up the SUV and truck market. An electric version of the iconic Wrangler, the Jeep Wrangler EV, is aimed at off-road enthusiasts who want to go green. Launch dates are TBA, but prototypes have been spotted in testing. An extended-wheelbase version of the luxurious Grand Wagoneer, the Jeep Grand Wagoneer L offers extra room for passengers and cargo. Jeep has seen consistent growth in recent years, with 2023 shaping up to be another strong year. US sales in Q3 2023 were up 5.7% compared to Q3 2022. This consistent growth makes Jeep a top car manufacturer in USA.
5. PACCAR INC
- Founded in: 1905
- Headquarters: Bellevue, Washington
- Popular/Bestselling Models: Kenworth, Peterbuilt, DAF
Located in Bellevue, Washington, PACCAR Inc. is recognized among the world’s largest manufacturers of medium- and heavy-duty trucks. Due to its various subsidiaries, like Peterbuilt, Kenworth, Leyland Trucks, etc., the company has produced a substantial number of vehicles. In 2006, PACCAR Inc. was awarded the National Medal of Technology at the White House as a result of its leadership in developing aerodynamic, lightweight commercial vehicles, leading to reduced fuel consumption and increased efficiencies.
Paccar has a market capitalization of $51.29 billion as of December 2023. According to the data, Paccar is the 344th most valuable company in the world by market capitalization. PACCAR achieved both record annual revenues of $26.05 billion and net income of $3.18 billion in the first nine months of 2023.
While PACCAR is known for its premium diesel trucks, they are actively developing alternative fuel and electric models to cater to evolving market demands and stricter emissions regulations. Therefore, it plans to launch the Kenworth T680E and Peterbilt 579E. These electric versions of the popular heavy-duty models are already in production and are expected to begin deliveries in late 2023. PACCAR is testing hydrogen fuel cell versions of its Kenworth and Peterbilt models in collaboration with other industry partners. While still in the pilot stage, these trucks offer long-range capabilities and reduced emissions compared to battery-electric options.
To sum up, this concludes our list of the five top automobile companies in USA. Above all, these companies are constantly reinventing themselves to stay afloat in the competition and provide customers with the best-in-class experience.
FAQs about top automobile companies in USA
Let’s conclude this blog by answering a few questions about top automobile companies in USA.
Here are the five best American-made cars.
a. Tesla Model Y
b. Ford F-Series
c. Tesla Model 3
d. Chevrolet Silverado
e. Ram Pickup
According to Insider Monkey, Ford Motors is the largest automobile market leader in terms of revenue in 2023. Ford’s sales of electric vehicles (EVs) also grew significantly in 2023. Through November, Ford sold 62,460 EVs, up 16.2% from 53,752 in 2022.
According to a survey, Ford F-series cars can be commonly called the most popular cars in the U.S.
Detroit City in the U.S. is famous for automobile manufacturing. The city is popularly known as the “Motor city of America.”
According to Statistia, California takes the crown with approximately 31.4 million registered vehicles as of 2021. California leads the way with around 14.3 million registered automobiles in 2021.
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