Reducing the weight of a vehicle is an important factor in fuel economy, addressing basic requirements and customer needs. Magnesium alloys are promising for automotive, aerospace and medical applications, because of their low density and very good strength, as well as high bio-compatibility. However, many technical and commercial reasons limit their usage and applications in automobile components, particularly their low stiffness and poor corrosion performance. Following a brief review of the latest trends in the utilization of magnesium alloys in the automobile industry, this paper describes all the other difficulties when using magnesium alloys. A discussion of the manufacturing process, increasing the anti-corrosion properties, the application of Mg alloys based on a FE analysis and cost is presented. This review leads to the specific development and better utilization of magnesium alloys.