Tesla, with a market cap of USD 704 billion, is the most valuable car company in the world. Following Tesla, Japan's Toyota is valued at USD 299 billion, and China's BYD at USD 97 billion. No Indian automaker is in the global top 10; Tata Motors, ranked 12th, is the highest from India, according to a national media report.

Despite a recent drop in its share price, Tesla still leads the market with a valuation more than twice that of the second-largest company. Tata Motors has regained its position as the largest car company in India, surpassing Maruti Suzuki with a market capitalization of USD 48 billion. However, no Indian automaker is in the global top 10; Tata Motors ranks 12th globally.

According to a national media report, the most valuable car companies in the world are led by Tesla from the United States with a market cap of USD 704 billion, followed by Japan's Toyota at USD 299 billion, and China’s BYD at USD 97 billion.

Tesla, owned by Elon Musk, is still the most valuable auto company with a market capitalization of USD 704 billion. The company operates in two segments: Automotive and Energy Generation and Storage. Despite a recent drop in its share price, Tesla maintains a substantial lead in market valuation, more than twice that of the second-largest player.
 

Toyota Motor Corporation of Japan ranks second globally with a market capitalization of USD 299 billion. The company's shares have risen nearly 13% this year. Toyota's 4Runner, a top seller in North America, has contributed significantly to its revenue, helping the automaker maintain its leading position. In the first half of 2024, Toyota sold 66,550 units of the 4Runner in the US, up from 50,736 units the previous year.

China's BYD Company ranks third with a market capitalization of USD 97 billion. In the fourth quarter of 2023, BYD briefly outpaced Tesla in pure electric vehicle sales, selling 526,409 units compared to Tesla's 484,507 units. The Chinese automaker continues to hold a strong market position with a valuation approaching USD 100 billion.

Mercedes-Benz from Germany holds the fourth position with a market capitalization of USD 74 billion. The company’s shares have been under pressure due to weaker-than-expected numbers in the second quarter and a less optimistic outlook. Mercedes has revised its annual profit margin forecast downward but expects that new models will boost its competitiveness in China’s tough market conditions in the latter half of 2024.

Luxury carmaker Ferrari from Italy ranks fifth with a market capitalization of USD 73 billion. Ferrari is closely competing with Mercedes-Benz in terms of market valuation. Recently, the company announced plans to introduce a crypto payment scheme for European dealerships by the end of July, following a successful launch in the US the previous year.

Porsche, from Germany, holds the sixth position with a market capitalization of USD 69 billion. The sports car manufacturer, owned by Volkswagen, has seen its valuation drop by over a quarter since April due to weak performance in China. Porsche's net profit for the first half of the year fell to EUR 2.15 billion (USD 2.33 billion) from EUR 2.77 billion, largely due to high costs from suppliers and capital expenditures.

Germany's BMW is ranked seventh with a market capitalization of USD 61 billion. Bayerische Motoren Werke, commonly known as BMW, produces and sells around 2.5 million premium-brand cars and off-road vehicles annually under its BMW, MINI, and Rolls-Royce brands.

Volkswagen, another German automaker, ranks eighth with a market capitalization of USD 59 billion. The company, which owns premium brands such as Audi, Bentley, Lamborghini, and Ducati, encountered difficulties in the first half of the year due to plant closures. Despite these challenges, Volkswagen continues to be a major global player, competing closely with companies like Toyota.

The Netherlands-based Stellantis ranks ninth with a market cap of USD 55 billion. Despite a 40% drop from its March peak, Stellantis remains in the top 10 automakers globally. The company's sales and earnings fell in the first half of 2024, with Morgan Stanley noting that free cash flow was a significant disappointment. Citi analysts also see a challenging investment case for Stellantis until there is a recovery in operating income margins.

Honda from Japan rounds out the top 10 with a market capitalization of USD 54 billion. Honda operates globally, with more than 45% of its revenue coming from the US, around 15% from Japan, and the rest from other countries.

In India, Tata Motors and Maruti Suzuki remain the largest car manufacturers. Tata Motors, with a market cap of USD 48 billion, recently overtook Maruti Suzuki, whose market cap stands at USD 47.6 billion. Tata regained the top spot after nearly six months, with Maruti Suzuki having held the lead earlier in the year.

"Tata Motors has reclaimed the number one position among Indian carmakers after nearly six months," noted industry analysts.

Despite their significant presence in India, neither Tata Motors nor Maruti Suzuki has made it to the top 10 global list. Tata Motors is the closest, ranking 12th with a market capitalization of USD 48 billion.