More than a century old, the automobile industry is popular among those who hold a fascination towards the ever-evolving technology of this industry. From supercars to super energy-efficient and self-driving cars, this industry has drastically changed, especially in the past two decades. Year after year, innovation has made automobiles more environmentally friendly and safer to drive. It is one of those industries where you hardly see a new player since the competition is already neck to neck among the existing ones.
So, let’s find out who are the top 10 most valuable car companies in the world in 2020-
10. Hyundai Motor Company
Hyundai is the first South Korean company to manufacture cars and owns various subsidiaries, including Kia Motors and Genesis Motors. It is the third-largest car manufacturer in the world and has the world’s largest manufacturing facility.
9. Ferrari NV
You can hear the engines roaring as soon as you hear this name. Ferrari is an Italian sports car manufacturer, it left its parent company, Fiat Chrysler and became one of the ten most valuable car companies in the world.
8. Ford Motor Company
The American car manufacturer is an old player of in this game, and I know that from “Ford v Ferrari”, Joking. However, it was founded, in 1903 and as old as the industry itself. Ford has recently invested $11.5 billion in electric vehicles for a cleaner air.
7. Bayerische Motoren Werke AG (BMW)
BMW is a German carmaker, founded in 1916. It is one of the most famous and valuable brand globally with an approximate value of USD 42 billion. BMW will starts its second EV battery assembly facility in Germany anticipating the demand for electric vehicles in future.
6. Honda Motor Company, Ltd.
Honda is a Japanese motor vehicle company which is also the world’s largest motorbike manufacturer. They are one of the most trusted brands and sold around 5.3 million automobiles in the year 2019. Honda has now launched virtual showrooms in India with features like 360 degree view and in-depth explanations of the features.
5. Daimler AG
Another German automobile manufacturer, Daimler popularly goes by the name Mercedes-Benz. Founded in 1926, it is also a leading truck manufacturer globally.
4. General Motors Company
GM is an American MNC and fourth-largest car manufacturer in the world. It is the parent company of Chevrolet, Cadillac, GMC, and Buick.
Volkswagen, which means “people’s car” is the third German company on the list. It is an 83 years old brand and is famous for its classic Beetle model. It is also the second-largest manufacturer in the world.
2. Toyota Motor Corporation
Toyota is the world’s largest car manufacturer and makes more than 10 million cars annually. The Japanese company was also the world’s most valued manufacturer until Tesla passed it in July 2020.
1. Tesla, Inc.
Tesla, which is literally and figuratively a teenager among these centenarian climbed the table faster than probably anyone to become the world’s most valuable car company in July 2020. The company is just 17 years old. It was founded in 2003 and is named after Nikola Tesla. Tesla is known for manufacturing electric cars.