Published on 7 Dec 2023 on Insider Monkey via Yahoo Finance
20 Most Valuable Car Companies by Market Cap Heading into 2024
In this article, we will be taking a look at the 20 most valuable car companies by market cap heading into 2024. To skip our detailed analysis, you can go directly to see the 5 most valuable car companies by market cap heading into 2024.
The car industry is one of the most valuable industries in the world, and is worth more than $2.7 trillion currently, expected to land at $3.6 trillion by 2031. Despite being one of the most important industries in the world, the automotive sector had a year to forget in 2022, mainly because of supply chain disruptions. Already reeling from the impact of the pandemic, higher interest rates and fears of a recession led to the industry slowing down as consumer spending fell, and the most valuable car companies by market cap heading into 2024 were significantly impacted too. “There is active demand destruction in the industry, given inflation, interest rates, and energy costs − but so far, this has mostly impacted the backlog,” Bernstein analyst Daniel Roeska wrote in an investor note.
