December 23, 2024
Tesla shares just reached a new all-time high following Trump’s victory in the 2024 presidential election, propelling the company to a massive $1.5 trillion valuation as of December 18, 2024.
This graphic, via Visual Capitalist's Marcus Lu , highlights the most valuable automakers by market cap worldwide as of Dec. 13, 2024, based on figures from CompaniesMarketCap.com .
Tesla accounts for nearly half of the market capitalization among global carmakers. Its valuation surpasses the combined value of the next 29 automakers.
Rank
Name
Market Cap (USD)
Country
Share (%)
1
Tesla
$1.4T
United States
48.3
2
Toyota
$231B
Japan
8.0
3
BYD
$107B
China
3.7
4
Xiaomi
$98B
China
3.4
5
Ferrari
$81B
Italy
2.8
6
Mercedes-Benz
$63B
Germany
2.2
7
Porsche
$58B
Germany
2.0
8
General Motors
$58B
United States
2.0
9
BMW
$51B
Germany
1.8
10
Volkswagen
$48B
Germany
1.7
11
Mahindra & Mahindra
$44B
India
1.5
12
Maruti Suzuki India
$42B
India
1.5
13
Ford
$41B
United States
1.4
14
Stellantis
$41B
Netherlands
1.4
15
Honda
$40B
Japan
1.4
16
Hyundai
$37B
South Korea
1.3
17
Tata Motors
$35B
India
1.2
18
SAIC Motor
$30B
China
1.0
19
Kia
$27B
South Korea
0.9
20
Seres Group
$27B
China
0.9
21
Great Wall Motors
$27B
China
0.9
22
Li Auto
$23B
China
0.8
23
Suzuki Motor
$23B
Japan
0.8
24
Geely
$20B
China
0.7
25
Chongqing Changan
$17B
China
0.6
26
Rivian
$17B
United States
0.6
27
GAC (Guangzhou Auto)
$14B
China
0.5
28
Renault
$14B
France
0.5
29
Subaru
$12B
Japan
0.4
30
XPeng
$12B
China
0.4
Other
-
$138B
-
5.6
Total
-
$2.9T
-
100.0
T
Trailing far behind Tesla, the four other top automakers on the list are Toyota ($231 billion), BYD ($107 billion), Xiaomi ($98 billion), and Ferrari ($81 billion).
Investors believe Elon Musk’s close relationship with Trump, along with Musk’s growing role in government, will serve as a powerful catalyst for Tesla. Additionally, some of the stock’s recent gains hinge on expectations that Trump’s planned corporate tax cuts will benefit U.S. manufacturers, including Tesla.
Tesla’s stock has also regained popularity due to investor expectations that its Robotaxi and Full Self-Driving (FSD) technology will drive a new phase of growth. Year-to-date, Tesla’s stock is up 57%.
However, Tesla’s massive market cap is not reflected in its production numbers. In 2023, Tesla sold 1.8 million vehicles, while Toyota sold 11.2 million vehicles during the same period.
Tesla’s success has further extended Elon Musk’s lead as the richest person on Earth. In December 2024, Musk’s net worth reached $462 billion, far ahead of Jeff Bezos in second place at $243 billion.
By Zerohedge.com
More Top Reads From Oilprice.com
Read this article on OilPrice.com
