American electric carmaker Tesla, with a market capitalization of $1.4 trillion, continues to dominate the global auto industry, far surpassing the market value of its competitors.
Its valuation is greater than the combined market capitalization of 51 other car manufacturers worldwide, according to data compiled by Anadolu.
In total, the market capitalization of 52 major automotive companies reached $2.8 trillion in 2024, with Tesla leading the pack. Following Tesla is Japan’s Toyota, which holds the second-largest market cap at $237.6 billion.
Chinese automakers BYD and Xiaomi follow with market capitalization of $110.7 billion and $102.5 billion, respectively. Italian luxury brand Ferrari rounds out the top five with a $77 billion valuation.
Other key players in the industry include General Motors at $57.8 billion, Porsche at $55 billion, Mercedes-Benz at $52.8 billion, BMW at $49.1 billion, and Volkswagen at $45.4 billion.
Several additional carmakers, such as Honda, Mahindra & Mahindra, Maruti Suzuki, Ford, Stellantis, Hyundai, Tata Motors, SAIC Motor, Kia, and Seres Group, all have market caps exceeding $1 billion.
Tesla’s continued rise is a reflection of its strong position in the EV market. The company is owned by tech billionaire Elon Musk, who is also behind SpaceX and the social media platform X. Musk has recently garnered attention for his close relationship with U.S. President-elect Donald Trump.
While Tesla leads in market value, Toyota holds the top spot in car sales, with 10.3 million units sold in 2023, according to a sales report from F&I Tools.
Volkswagen followed with 9.2 million units, and Hyundai Kia sold 7.3 million. Other notable manufacturers include Stellantis (6.4 million), Ford (4.4 million), Honda (4.2 million), Nissan (3.4 million), and BMW (2.6 million).
Tesla’s sales for 2023 totaled 1.81 million units.