Tata Motors Breaks into Top Ten Automakers

31 Jul 2024 , 01:14 PM

The stock is up more than 50% this year and more than 101% in 2023, with a market capitalisation of $51 billion, the largest among Indian automakers.

Globally, Tesla Inc leads with a market capitalisation of $711.19 billion, followed by Toyota Motors at $307.50 billion and BYD Company at $92.65 billion. Ferrari NV is ranked fourth with a market capitalisation of $74.02 billion, followed by Mercedes-Benz Group ($71.26 billion), Porsche ($68.29 billion), BMW AG ($59.54 billion), Volkswagen AG ($58.18 billion), and Honda Motor Co ($56.12 billion).

Tata Motors’ market capitalisation exceeds that of Stellantis NV ($50.64 billion), General Motors ($49.74 billion), Maruti Suzuki India ($48.36 billion), Mahindra & Mahindra ($43.41 billion), Ford Motor Co ($43.1 billion), Hyundai Motor ($37.88 billion), and KIA Corp ($32.29 billion).

Tata Motors’ stock has risen in three years, buoyed by strong expectations for its passenger vehicles. The corporation has made a remarkable turnaround, with Jaguar Land Rover (JLR) now on a profitable growth path. Tata Motors is the market leader in electric vehicles in India, and the company’s portfolio has transitioned to utilities. However, its EV business has yet to break even on an EBITDA basis, and ongoing investment in EVs is contingent on robust sales.

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