Global R&D spending: key companies in the automotive sector 2023

Published by
Mathilde Carlier,
Dec 19, 2024

In the 2023 fiscal year, U.S.-based carmaker Ford reported research and development costs of around 8.2 billion U.S. dollars. In contrast, Germany's Volkswagen spent around 24.1 billion U.S. dollars in R&D expenditure.

Leading automotive firms by research and development spending worldwide in FY 2023 (in billion U.S. dollars)

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Release date

2024

Region

Worldwide

Survey time period

FY 2023/24

Supplementary notes

* These figures have been converted from euros to U.S. dollars at the following rate, correct as of December 29, 2023: 1 EUR = 1.105 USD; 
** this figure has been converted from Japanese yen to U.S. dollars at the following rate, correct as of March 31, 2024, 1 JPY = 0.006607 USD; the figure is for the fiscal year ended March 31, 2024.

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