The 49 players who most influenced the car world in 2023—and the MotorTrend Person of the Year.
It was a year of build and repair, of normalcy and lunacy, of press forward and pull back.
The recovery from the pandemic continued as new vehicle inventory levels increased, but high interest rates and elevated sticker prices kept some would-be buyers out of the market. U.S. light vehicle sales climbed 12 percent to 15.6 million—their highest level since 2019—but were still about 2 million vehicles short of pre-pandemic levels. Honda, Tesla, VW, and the Korean automakers were among those making big gains; only Stellantis saw a drop in sales. Increased vehicle inventories prompted more competitive pricing and the return of incentives. Automakers reported strong earnings and continued to invest in all types of vehicles and powertrains.
The domestic industry grappled with an unorthodox set of contract negotiations under a fiery new UAW leader, Shawn Fain, who orchestrated a six-week strike and scored historic gains for about 146,000 workers, touching off matching wage increases at nonunionized companies that want to keep their employees happy in the face of renewed organizing efforts.
It was a year that started with a flurry of announcements of new EV models and new plants to build them. As the year continued, the realization came that EV adoption might take longer than expected. Some EV programs were deemphasized and launches delayed. The lack of reliable public charging infrastructure led to the surprise switch to Tesla’s North American Charging Standard by much of the industry, which will take place over the next few years. Consumers also grappled with the changing tax credits on EVs brought forth by the Inflation Reduction Act.
Of course, none of that happens without people: the 50 influential figures on this list, in fact, topped by our 2024 Person of the Year.
50 2023 RANK 42 ↓
Elon Musk
TESLA CEO
Musk continued to make headlines good and bad. Tesla ended the year with the global EV sales crown, but BYD outsold Tesla in the fourth quarter and shows no signs of slowing down. Share prices went up, but so did discounts, which meant the bottom line took a hit. Tesla finally delivered a few Cybertrucks, but with less capability and a higher price than promised. The Model 3 got updates, but the product lineup still awaits the affordable next-gen model. Musk's management of X (formerly Twitter) revealed an erratic business style, and allegations of antisemitism and drug use reflected on the man himself.
49 2023 RANK UNRANKED
Roger Penske
PENSKE CORPORATION CEO
The automotive and racing mogul is not slowing down. He still owns Team Penske as well as the Indianapolis Motor Speedway, the Indianapolis 500, the IndyCar Series, and other racing-related businesses. He keeps adding titles, too: NASCAR champion Ryan Blaney’s team gave Penske Racing back-to-back Cup championships, and Team Penske won this year’s 24 Hours of Daytona. Penske has also implemented eco-conscious initiatives such as burning fuel from renewable sources in the NTT IndyCar Series and Brickyard 400. The man personifies the adage, “Win on Sunday, sell on Monday.”
48 2023 RANK UNRANKED
McKeel Hagerty
HAGERTY CEO
McKeel is the driving force behind Hagerty, a company that went public in 2021 and expanded beyond its roots of selling specialty insurance for classic cars. It has
