25 Largest Automotive Companies and Suppliers in the World
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In this piece, we will take a look at the 25 largest automotive companies and suppliers in the world. If you want to skip our overview of the global automotive industry, then you can take a look at the 5 Largest Automotive Companies and Suppliers in the World.
The global automotive industry is one of the largest in the world, having grown in size after the first mass produced automobiles were offered by Ford Motor Company (NYSE:F) and Rolls-Royce Holdings plc (OTC:RYCEY). Since then, cars have become significantly more advanced, and in the 21st century, they're also facing stiff competition from next generation vehicles that use electricity and aim to reduce global greenhouse gas emissions.
Its size and tight link with the economy also means that the automotive industry often ends up acting as one of the barometers for economic health. This is because large manufacturers like Ford and General Motors Company (NYSE:GM) employ thousands of people in their factories. These workers are dependent on car sales, and if the economy is growing and people can buy more cars, the workers are able to keep a job and vice versa.
However, the industry is facing some turbulence. Right now, interest rates in the U.S. are at extremely high levels which do not suit either businesses or consumers. Consequently, electric vehicle stocks are under pressure, making some wonder whether this is the perfect opportunity to position a portfolio for long term growth.
So, how bad are things for EV automotive stocks? Well, we can check this by analyzing the performance of S&P Global Inc. (NYSE:SPGI)'s S&P U.S. & China Electric Vehicle Index and S&P Kensho Electric Vehicles Index. These two automotive stock indexes are down by 4.45% and 7.49% over the past twelve months, and their year to date performance is also in the red. This poor performance is also reflected in electric vehicle stocks such as Tesla, Inc. (NASDAQ:TSLA) and NIO Inc. (NYSE:NIO) which are down by 27.61% and 44.54% year to date, respectively. For more electric vehicle automotive stocks, you can take a look at 12 Best EV Stocks To Buy For 2024.
The next thing to consider is to check whether the turmoil in the EV industry is also presence in the broader automotive sector and to what extent. Continuing with our brief analysis of stock indexes, two such indexes that cover automotive stocks are the Dow Jones U.S. Automobiles Index and S&P 500 Automobiles (Industry). Well, the former is down by 40% over the year while the latter is down by 25% over the same time period.
On the news side of things, the automotive industry is bracing for yet another shock as we exit the first quarter of 2024. After the well known coronavirus lock downs that placed Tesla's Elon Musk against California authorities, this time around, it's the Francis Scott Key Bridge's collapse in Baltimore. The bridge's collapse led to the Port of Baltimore suspending shipping, with statements from General Motors and Ford sharing that they would have to divert shipments that were initially directed to the port.
Finally, as investors continue to hope for interest rate cuts in 2024, here's what Diamond Hill Capital had to say about General Motors Company (NYSE:GM) in its third quarter of 2023 investor letter:
Several of our bottom contributors were in the consumer area, including auto retailer CarMax and auto manufacturer General Motors. In general, rising interest rates have priced out a large portion of the population who simply can’t afford to buy a car given where financing costs stand today. These challenges have weighed on both companies. General Motors was also impacted by the UAW strike, which put a damper on the automotive industry in general.
With these details in mind, let's take a look at the largest automotive companies and suppliers in the world. Some notable names are Stellantis N.V. (NYSE:STLA), Tesla, Inc. (NASDAQ:TSLA), and Contemporary Amperex Technology Co., Limited (SHE:300750.SZ).
Photo by Yannis Zaugg on Unsplash
Our Methodology
To make our list of the biggest automotive suppliers and companies in the world, we ranked all publicly traded companies in the industry by their market capitalization and picked out the most valuable firms.
Largest Automotive Companies and Suppliers in the World
25. SAIC Motor Corporation Limited (SHA:600104.SS)
Latest Market Capitalization: $23.95 billion
SAIC Motor Corporation Limited (SHA:600104.SS) is a Chinese automotive company headquartered in Shanghai, China. It is currently looking to target the Indian EV market and has set up a joint venture for this purpose. Along with Tesla, Inc. (NASDAQ:TSLA), Stellantis N.V. (NYSE:STLA), and Contemporary Amperex Technology Co., Limited (SHE:300750.SZ), it is one of the biggest automotive suppliers in the world.
24. Compagnie Générale des établissements Michelin Société en commandite par actions (EPA:ML.PA)
Latest Market Capitalization: $27.51 billion
Compagnie Générale des établissements Michelin Société en commandite par actions (EPA:ML.PA), commonly known as Michelin, is a French company known for selling high end tires.
23. Mahindra & Mahindra Limited (NSE:M&M.NS)
Latest Market Capitalization: $28.55 billion
Mahindra & Mahindra Limited (NSE:M&M.NS) is an Indian company headquartered in Mumbai, India, It sells trucks, cars, and other vehicles. The firm is currently lobbying against lower taxes for imported EVs in a bid to position itself for a potential entry of Tesla in the Indian market.
22. Li Auto Inc. (NASDAQ:LI)
Latest Market Capitalization: $30.24 billion
Li Auto Inc. (NASDAQ:LI) is a Chinese electric vehicle manufacturer headquartered in Beijing, China. The shares are rated Strong Buy on average, and the average share price target is $53.10.
21. Bridgestone Corporation (OTC:BRDCY)
Latest Market Capitalization: $31.75 billion
Bridgestone Corporation (OTC:BRDCY) is a Japanese tire company headquartered in Tokyo, Japan. The firm faced a bit of controversy last year when fish farmers sued it for poisonous chemicals.
20. Kia Corporation (KRX:000270.KS)
Latest Market Capitalization: $32.6 billion
Kia Corporation (KRX:000270.KS) is a South Korean automobile manufacturer headquartered in Seoul, South Korea. The firm expanded its vehicle portfolio in March 2024 when it unveiled a new compact sedan for the U.S. market.
19. Toyota Motor Corporation (NYSE:TM)
Latest Market Capitalization: $34.27 billion
Toyota Motor Corporation (NYSE:TM) is a Japanese car manufacturer headquartered in Toyota, Japan. The firm's CEO warned in March 2024 that the transition to electric vehicles can take longer than expected to due macroeconomic constraints.
18. Cummins Inc. (NYSE:CMI)
Latest Market Capitalization: $40.16 billion
Cummins Inc. (NYSE:CMI) is an American automotive supplier that sells engines and other associated components. The shares are rated Buy on average, and the average share price target is $275.39.
17. Tata Motors Limited (NSE:TATAMOTORS.NS)
Latest Market Capitalization: $43.29 billion
Tata Motors Limited (NSE:TATAMOTORS.NS) is an Indian automotive manufacturer that makes and sells light and heavy vehicles. The firm's shares soared to new records in March 2024 after it announced a plan to split into two companies.
16. Hyundai Motor Company (OTC:HYMTF)
Latest Market Capitalization: $43.98
Hyundai Motor Company (OTC:HYMTF) is a South Korean car, truck, and van manufacturer headquartered in Seoul, South Korea. The firm was out with a major EV investment plan in March 2024 that saw it earmark $51 billion in funds.
15. Dr. Ing. h.c. F. Porsche AG (ETR:P911.DE)
Latest Market Capitalization: $46.1 billion
Dr. Ing. h.c. F. Porsche AG (ETR:P911.DE) is the well German car company that sells cars. The firm's latest financial results were a worrying bunch as the guidance for 2024 of $7.2 billion in profit marked a substantial annual drop.
14. Maruti Suzuki India Limited (NSE:MARUTI.NS)
Latest Market Capitalization: $47.54 billion
Maruti Suzuki India Limited (NSE:MARUTI.NS) is a Suzuki subsidiary and is headquartered in New Delhi, India. March saw the firm deal with a setback as it was forced to recall tens of thousands of vehicles due to faulty fuel pumps.
13. General Motors Company (NYSE:GM)
Latest Market Capitalization: $51.48 billion
General Motors Company (NYSE:GM) is one of the biggest car manufacturers in the U.S. While the firm announced that the suspension of shipping to the Port of Baltimore will make it reroute shipments, it stressed that the overall impact would be minimal.
12. Ford Motor Company (NYSE:F)
Latest Market Capitalization: $51.90 billion
Where there's GM, there's also Ford and this is also the case in our list of the biggest automakers. Like GM, Ford Motor Company (NYSE:F) also plans to reroute shipments from the Port of Baltimore but is not too worried about the impact on its operations.
11. DENSO Corporation (OTC:DNZOY)
Latest Market Capitalization: $56.65 billion
DENSO Corporation (OTC:DNZOY) is a Japanese car parts manufacturer headquartered in Kariya, Japan. Amidst a tight global financial environment, its part owner Toyota is selling a $4.7 billion stake in DENSO Corporation (OTC:DNZOY) to raise capital.
10. Honda Motor Co., Ltd. (NYSE:HMC)
Latest Market Capitalization: $60.74 billion
Honda Motor Co., Ltd. (NYSE:HMC) is another well-known Japanese car manufacturer. The firm made quite a splash in March 2024 when it shared that it will open a new facility in the U.K. as part of its F1 partnership with Aston Martin.
9. Bayerische Motoren Werke Aktiengesellschaft (OTC:BMWYY)
Latest Market Capitalization: $72.98 billion
Bayerische Motoren Werke Aktiengesellschaft (OTC:BMWYY) is the well-known German automotive manufacturer simply dubbed BMW. The firm's flying car technology made the news in March 2024 when a Chinese firm bought it.
8. Volkswagen AG (OTC:VWAGY)
Latest Market Capitalization: $76.19 billion
Volkswagen AG (OTC:VWAGY) is another globally renowned German car manufacturer. It was out with some good news for its investors in the aftermath of the Baltimore bridge collapse as it assured them that Volkswagen AG (OTC:VWAGY) was insulated from the mishap due to the location of its facilities.
7. Ferrari N.V. (NYSE:RACE)
Latest Market Capitalization: $79.2 billion
Ferrari N.V. (NYSE:RACE) is the iconic Italian car manufacturer known for its sports cars. It is also eager to make its mark in the EV industry and expanded its partnership with a Korean battery company for this purpose in March 2024.
6. BYD Company Limited (OTC:BYDDY)
Latest Market Capitalization: $81.69 billion
BYD Company Limited (OTC:BYDDY) is a Chinese car manufacturer headquartered in Shenzhen, China. The fourth quarter of 2023 was an important one for the firm as it overtook Tesla as the world's biggest EV company in terms of quarterly units shipped.
Stellantis N.V. (NYSE:STLA), BYD Company Limited (OTC:BYDDY), Tesla, Inc. (NASDAQ:TSLA), and Contemporary Amperex Technology Co., Limited (SHE:300750.SZ) are some of the largest automotive manufacturers in the world.
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Disclosure. None. 25 Largest Automotive Companies and Suppliers in the World was initially published on Insider Monkey.