Seven mainland Chinese automakers are included in the Fortune Global 500, one of the most trusted rankings for companies’ performance worldwide. For the first time in the company’s history, BYD scored a seat on this list.
Guangzhou Automobile Industry Group (GAC Group) ranks 5th among 7 Chinese car manufacturers and 186th in the Global 500 list with revenue of $67 billion in 2021. Despite falling 10 places, the group still recorded a growth rate of 16.5% over the same period last year. revenue, generating an annual profit of $607.3 million, up 5.4% from a year ago.
With a rich product line and timely formation in the field of new energy vehicles, GAC Group sold 2,144,387 vehicles in 2021, an increase of 4.92% year-on-year. The only car manufacturer that can climb the rankings is Zhejiang Group Corporation (Geely Holding). The company rose 10 places to rank 229 on the list. In 2021, Geely Holding posted year-on-year revenue and profit growth of 18.4% and 8.8% to $55.9 billion and $1.47 billion, respectively.
Geely Holding even ranks lower than GAC Group and BAIC Group based on annual revenue, which actually makes more profit than the other two automakers combined.
The Fortune Global 500’s aggregate sales hit $37.8 trillion in 2021, up 19% from a year ago, the highest annual growth rate in the history of the Fortune Global 500 list. Notably, revenue from Global 500 companies in China surpassed that of the United States for the first time, accounting for 31% of total output generated.
SAIC Motor topped the list of seven Chinese automakers on the list at 68th, down eight places from a year ago. The company generated $121 billion in revenue in 2021, up 12.4% from the same period last year. With an annual growth rate of 28.4%, SAIC Motor’s annual profit was $3.8 billion last year.
In 2021, SAIC Motor sold a total of 5,463,500 vehicles, down 2.45% over the same period last year.
The automaker that ranks second of all is FAW Group at 79th, down 13 places from 2021. With annual sales of $109 billion, the auto group is up 8.2% over the year. with the previous year. FAW Group’s profit is $3.6 billion in 2021, up 25.6 percent year-on-year.
In 2021, FAW Group sold 3.5 million vehicles, bringing revenue to a record high. The company expects to sell 4.1 million vehicles with $114 billion in revenue by 2022, up 17.1%. With sales of $86.1 billion, Dongfeng Motor ranks 122nd on the Global 500 list, third among mainland Chinese automakers. The auto giant made $1.4 billion in 2021, with a total of 3.275 million vehicles sold.
In particular, the passenger car brands wholly owned by the group have grown significantly. The group’s cumulative passenger car sales (PV) amounted to 2,577 million vehicles during the year. Publicly owned brands saw sales increase 32.2% year-on-year, with 542,000 vehicles sold, while co-owned brands sold 2.035 million PV.
Falling 38 places, Beijing Automobile Group (BAIC Group) ranked 162 on the list. The company’s revenue and profit were $74.7 billion (+3.5% YoY) and $318 million (-6.4% YoY) respectively over the past year.
Last but not least, BYD, the traditional automaker that abandoned fuel-powered vehicles this year, appears on the Fortune Global 500 list for the first time at number 436. a special increase of 47.3%, BYD’s revenue to reach $32.8 billion in 2021.
Over the past year, BYD’s full-year auto sales totaled 740,131 units, up 73.34% from a year earlier. New energy vehicles account for 81.6% of the company’s total vehicle sales, or 603,783 units.
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