This year’s list saw the first-time entrance of Stellantis, the company created through the merger of Groupe PSA and Fiat Chrysler Automobiles. Those two carmakers officially combined their financial resources in January 2021 in order to invest more heavily in electric vehicles and better compete with Volkswagen and Toyota. 

Volkswagen has set an ambitious target to overtake Tesla in the electric vehicle market by 2025. Last year, the German car manufacturer doubled its EV production to 452,000; Tesla delivered just over twice as many EVs worldwide, for a total of 936,000. 

Toyota, a trailblazer in the EV market with its pioneering Prius hybrid model, became the top seller of cars overall in the U.S.; it was the first time General Motors missed out on the No. 1 spot since 1931. 

The automotive industry has been buoyed by the return to offices and increased travel globally. Consumer intent to purchase cars is back to 94% of pre-pandemic levels, after dipping in 2020, according to a report from McKinsey & Co.

Here are the largest automakers by revenue on this year’s Fortune Global 500:

1. Volkswagen

Country/Territory: Germany
Revenue: $295.8 billion
Revenue % Change YoY (Year over Year): 16.5%
Profit: $18.2 billion
Profit % Change YoY: 80%

2. Toyota Motor

Country/Territory: Japan
Revenue: $279.3 billion
Revenue % Change YoY: 8.8%
Profit: $25.4 billion
Profit % Change YoY: 19.8%

3. Stellantis

Country/Territory: Netherlands
Revenue: $176.7 billion
Revenue % Change YoY: 225.3%
Profit: $16.8 billion
Profit % Change YoY: 578.1%

4. Mercedes-Benz Group

Country/Territory: Germany
Revenue: $158.3 billion
Revenue % Change YoY: –10%
Profit: $27.2 billion
Profit % Change: 558.2%

5. Ford Motor

Country/Territory: U.S.
Revenue: $136.3 billion
Revenue % Change YoY: 7.2%
Profit: $17.9 billion
Profit % Change: Loss to profit

6. BMW

Country/Territory: Germany
Revenue: $131.5 billion
Revenue % Change YoY: 16.6%
Profit: $14.6 billion
Profit % Change: 240.3%

7. Honda Motor

Country/Territory: Japan
Revenue: $129.5 billion
Revenue % Change YoY: 4.3%
Profit: $6.3 billion
Profit % Change: 1.5%

8. General Motors

Country/Territory: U.S.
Revenue: $127 billion
Revenue % Change YoY: 3.7%
Profit: $10 billion
Profit % Change: 55.9%

9. SAIC Motor

Country/Territory: China
Revenue: $120.9 billion
Revenue % Change YoY: 12.4%
Profit: $3.8 billion
Profit % Change: 28.4%

10. China FAW Group

Country/Territory: China
Revenue: $109.4 billion
Revenue % Change YoY: 8.2%
Profit: $3.6 billion
Profit % Change: 25.6%

11. Hyundai Motor

Country/Territory: South Korea
Revenue: $102.8 billion
Revenue % Change YoY: 16.6%
Profit: $4.3 billion
Profit % Change: 257.7%

12. Dongfeng Motor

Country/Territory: China
Revenue: $86.1 billion
Revenue % Change YoY: –0.8%
Profit: $1.4 billion
Profit % Change: 29.2%

13. Nissan Motor

Country/Territory: Japan
Revenue: $75 billion
Revenue % Change YoY: 1.1% 
Profit: $1.9 billion
Profit % Change: Loss to profit

14. Beijing Automotive Group

Country/Territory: China
Revenue: $74.7 billion
Revenue % Change YoY: 3.5%
Profit: $318 million
Profit % Change: –6.4%

15. Guangzhou Automobile Industry Group

Country/Territory: China
Revenue: $67 billion
Revenue % Change YoY: 16%
Profit: $607.3 million
Profit % Change: 5.4%

16. Kia

Country/Territory: South Korea
Revenue: $61 billion
Revenue % Change YoY: 21.7%
Profit: $4.2 billion
Profit % Change: 229.9% 

17. Zhejiang Geely Holding Group

Country/Territory: China
Revenue: $55.9 billion
Revenue % Change YoY: 18.4%
Profit: $1.5 billion 
Profit % Change: 8.8%

18. Renault

Country/Territory: France
Revenue: $54.6 billion
Revenue % Change YoY: 10.3%
Profit: $1 billion
Profit % Change: Loss to profit

19. Tesla

Country/Territory: U.S.
Revenue: $53.8 billion
Revenue % Change YoY: 70.7%
Profit: $5.5 billion
Profit % Change: 665.5%

20. Volvo

Country/Territory: Sweden
Revenue: $43.4 billion
Revenue % Change YoY: 18.0%
Profit: $3.8 billion
Profit % Change: 82.2%