Based on market capitalization, Tesla is considered the richest car company in the world according to a Forbes India report from April 2024.
Often, when discussing the "richest" company, people are referring to the company's market capitalization. This metric represents the total market value of a company's outstanding shares, essentially how much the market believes the company is worth.
According to the provided reference, the top car companies by market cap are:
Top Car Companies by Market Capitalization
| Rank | Car Company | Market Cap (in USD) | Units sold globally in 2023 |
|---|---|---|---|
| #1 | Tesla | $768.82 bln | 1,808,581 |
| #2 | Toyota | $233.36 bln | 11,230,000 |
| #3 | BYD | $121.74 bln | 3,000,000 |
| #4 | Ferrari | $82.36 bln | 13,663 |
Source: Forbes India - World's Biggest Car Companies
As the table shows, Tesla's market capitalization of $768.82 billion significantly surpasses that of other major automakers like Toyota, BYD, and Ferrari, positioning it as the leader in terms of market value.
It's worth noting that market capitalization is a dynamic figure that changes with the stock price. However, based on the provided data, Tesla holds the top position. While companies like Toyota sell far more vehicles, Tesla's valuation reflects investor expectations for its future growth in electric vehicles, software, and energy solutions.
