In this article, we will discuss the 15 biggest European car companies. If you want to skip our analysis of the European automobile industry, you can go directly to 5 Biggest European Car Companies.
The motor vehicle industry in Europe is one of the largest industries in the world. Europe is home to some of the most well-known and prestigious car brands such as BMW, Mercedes-Benz, Audi, Porsche, Jaguar, and Bentley. The industry is responsible for a large portion of the continent’s GDP and employs millions of people. The European car industry is very competitive and is constantly evolving. New technologies and trends are constantly being introduced in order to stay ahead of the competition. The industry is consolidated, with a few large companies dominating the market. European car companies are competing with global auto giants like Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM), and Tesla Inc (NASDAQ:TSLA).
The European Automotive Industry
According to The European Automobile Manufacturers Association, or ACEA, the European automobile industry employs over 13 million Europeans which represents 7% of jobs in the region. An estimated 11.5% of all EU jobs belong to the manufacturing sector and 3.4 million of those are attributed to the automobile industry. According to ACEA, motor vehicles bring in roughly EUR 374.6 billion in tax revenue to governments across Europe and the automotive industry accounts for a trade surplus of EUR 79.5 billion for the continent. Moreover, the automobile industry accounts for over 8% of Europe’s GDP, and roughly EUR 58.8 billion is set aside for investments in R&D for the automotive sector, which makes up for roughly 32% of total government expenditure.
The Rise of Battery Electric Vehicles
According to ACEA, the market share of battery electric vehicles in Europe grew in the third quarter of 2022 to 11.9%, up from 9.8% in the third quarter of 2021. As of the third quarter of 2022, hybrid electric vehicles hold a 22.6% market share of EU cars, up from 21.2% in the comparable quarter last year. Though the market share for BEVs is increasing, internal combustion engine vehicles continue to dominate the market and hold a 54.3% share of the European automotive market.
The automobile industry in Europe is highly competitive and diverse. The main players in the industry are Germany, France, Italy, Spain, and the United Kingdom. These countries have a long history of producing high-quality automobiles, and they continue to innovate and invest in new technologies. This article will look at some of the biggest European car companies which include Bayerische Motoren Werke Aktiengesellschaft (OTC:BMWYY), Mercedes-Benz Group AG (OTC:MBGYY), and Volkswagen AG (OTC:VWAGY).
To determine the biggest European car companies, we reviewed the European automobile industry and identified major players. We have included both public and private companies in this list. For public companies, we gave weight to the market cap, and for private companies, we gave weight to other metrics such as the number of employees, cash flows, and vehicle sales, among others. For private companies, we also sourced the estimated annual revenue from Growjo, a leading information services company that has credible databases of companies.
Biggest European Car Companies
15. Pagani Automobili
Annual Revenue (2020): EUR 106.9 Million
Pagani Automobili is an Italian manufacturer of sports cars and supercars. The company was founded in 1992 by Horacio Pagani and is based in San Cesario sul Panaro, near Modena, Italy. Pagani’s first car was the Zonda, which was launched in 1999. The Zonda was followed by the Huayra, which was launched in 2011. Pagani is known for using carbon fiber in its vehicles, and for its attention to detail. The company’s cars are hand-built, and each one is unique. Pagani’s cars are some of the most expensive on the market, with the Huayra costing over $3 million. However, the company’s products are also among the most sought-after, with waiting lists for its cars often stretching into years. Pagani Automobili has an estimated 250 employees and its lead investor is Saudi Arabia’s Public Investment Fund. Pagani Automobili is among the biggest car companies in Europe by revenue. The company generated a revenue of EUR 106.9 million in 2020.
13. Koenigsegg Automotive AB
Annual Revenue (Estimated): $196.6 Million
Koenigsegg Automotive AB is a Swedish manufacturer of high-performance sports cars, founded in 1994. The company is located in Ängelholm, Sweden. It is known for producing the Koenigsegg CCX, Koenigsegg Agera, Koenigsegg Regera, and Koenigsegg One:1. Koenigsegg Automotive AB has a skilled team of roughly 450 employees. Koenigsegg Automotive AB is a privately held company, however, the company’s premium cars which start at over $1.5 million make it one of the biggest car companies in Europe. The company’s estimated annual revenue borders $200 million.
10. Volvo Cars
Market Cap as of November 15: $229.8 Million
Volvo Cars is a Swedish luxury vehicle manufacturer founded in 1927. It is headquartered in Gothenburg, Sweden. The company manufactures and markets sport utility vehicles (SUVs), station wagons, sedans, compact executive sedans, and coupes. Volvo Cars has a number of competitive advantages over its rivals. Firstly, it has a strong reputation for safety which is a key selling point for many customers. Secondly, its cars are known for being extremely reliable which again is a key selling point. Thirdly, Volvo Cars offers a wide range of vehicles to appeal to a wide range of customers. Finally, its customer service is excellent which helps to create a loyal customer base. In 2021, Volvo Cars generated revenue of SEK 282 billion. Volvo Cars is one of the biggest European car companies.
12. Jaguar Land Rover
Annual Revenue (Estimated): $479.6 Million
Jaguar Land Rover is a British multinational automotive company with its headquarters in Whitley, Coventry, England. The company manufactures and markets luxury vehicles under its two main brands, Jaguar and Land Rover. Some of the main competitive advantages that Jaguar Land Rover has are its strong brand identity, its unique design language, its well-crafted vehicles, and its rich heritage. Jaguar Land Rover also has a strong dealer network and after-sales support. Additionally, the company has a strong financial position and is investing heavily in new products, technologies, and facilities. Jaguar Land Rover employs over 40,000 people globally and is one of the largest European car companies.
14. Automobili Lamborghini S.p.A.
Annual Revenue (Estimated): $1.8 Billion
In 1963, Ferruccio Lamborghini founded Automobili Lamborghini S.p.A. in Sant’Agata Bolognese, Italy. The company’s first car, the Lamborghini 350GTV. Automobili Lamborghini S.p.A. went on to produce a number of iconic cars, including the Miura, the Countach, and the Diablo. Today, Lamborghini is owned by Volkswagen AG (OTC:VWAGY) and produces a range of high-performance sports cars. Automobili Lamborghini S.p.A. is among the biggest car companies in Europe and reportedly generated a turnover of EUR 1.95 billion in 2021, up 19% year over year.
Annual Revenue (Estimated): $4.8 Billion
Peugeot is a French car maker that was founded in 1810. The company produces a wide range of vehicles, from small city cars to large SUVs. Peugeot is known for its commitment to innovation and has been responsible for several industry firsts, such as the world’s first mass-produced diesel car. Today, Peugeot is a major player in the global automotive market, with sales in over 160 countries. Peugeot is one of the largest European car companies.
Some of Europe’s most iconic and biggest carmakers include Bayerische Motoren Werke Aktiengesellschaft (OTC:BMWYY), Mercedes-Benz Group AG (OTC:MBGYY), and Volkswagen AG (OTC:VWAGY).
9. Aston Martin Lagonda Global Holdings plc (OTC:ARGGY)
Market Cap as of November 15: $1.21 Billion
Aston Martin Lagonda Global Holdings plc (OTC:ARGGY) is a leading English automaker that engages in the business of designing, developing, manufacturing, and selling of luxury sports cars. The company offers a range of luxury sports cars, including the DB11, DBS Superleggera, Vantage, Rapide AMR, Vanquish S, Vanquish Zagato, and Vulcan. The company sells its cars through a network of dealerships located in Europe, the United Kingdom, North America, the Middle East, Africa, Asia Pacific, and South America. Aston Martin Lagonda Global Holdings plc (OTC:ARGGY) is headquartered in Warwickshire, the United Kingdom. As of November 15, the company is worth $1.21 billion on the open market and is one of the largest European car companies in the world.
Like Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM), and Tesla Inc (NASDAQ:TSLA), Aston Martin Lagonda Global Holdings plc (OTC:ARGGY) has a rich history of delivering the best-in-class automobiles and has a strong footing in the global automotive market.
8. Renault SA (OTC:RNLSY)
Market Cap as of November 15: $9.84 Billion
Renault SA (OTC:RNLSY) is a French multinational automobile manufacturer established in 1898. The company produces a range of passenger and light commercial, and electric vehicles primarily under Renault, Dacia, Renault Samsung Motors, Alpine, LADA, and Jinbei & Huaasong. Renault SA (OTC:RNLSY) is one of the largest automakers in Europe and has a significant presence in many global markets. As of November 15, the company is worth roughly $9.8 billion on the open market.
Renault SA (OTC:RNLSY) is a large, profitable, and, cash-rich company that employs over 100,000 employees in 38 countries. According to the company’s balance sheet, Renault SA (OTC:RNLSY) has free cash flows of $576,000.
7. Polestar Automotive Holding UK PLC (NASDAQ:PSNY)
Market Cap as of November 15: $12.31 Billion
Polestar Automotive Holding UK PLC (NASDAQ:PSNY) is a Swedish automaker that is engaged in the design, development, and manufacture of high-performance electrified vehicles. The company was founded in 2017 and employs over 1,300 skilled individuals. As of November 15, Polestar Automotive Holding UK PLC (NASDAQ:PSNY) has a market cap of $12.31 billion and is ranked among the biggest car companies in Europe. On November 11, Polestar Automotive Holding UK PLC (NASDAQ:PSNY) posted earnings for the third quarter of 2022. The company reported a net income of $299.39 million and generated a revenue of $435.45 million, up 104.5% year over year.
6. Porsche Automobil Holding SE (OTC:POAHY)
Market Cap as of November 15: $18.56 Billion
Porsche Automobil Holding SE (OTC:POAHY) is a leading German automobile manufacturer that makes and sells high-performance sports cars, SUVs, and sedans worldwide. The company has a strong brand name, a history of producing high-quality sports cars, and a reputation for excellent customer service. These advantages allow Porsche Automobil Holding SE (OTC:POAHY) to charge premium prices for its cars and to maintain high levels of customer satisfaction. The company is ranked among the biggest car companies in Europe and, as of November 15, is valued at $18.56 billion.
In addition to Porsche Automobil Holding SE (OTC:POAHY), other prominent players in the global car market include Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM), and Tesla Inc (NASDAQ:TSLA).
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Disclosure: None. 15 Biggest European Car Companies is originally published on Insider Monkey.