Among the automotive industry, products are automobiles, sport utility vehicles (SUVs), electric vehicles, trucks, and commercial vehicles. Growing demand for innovative vehicles battles car companies in the World. Even though the sales of cars are declining globally, people are still buying more SUVs and electric cars. One of the biggest trends that will influence the growth of the industry is the rise of e-vehicles.
The automotive industry is still not fully insulated from the effects of the COVID-19 pandemic. Despite this, it continues to receive steady investments to improve the aesthetics and features of vehicles globally.
Insider Monkey ranks them by their market cap and starts the 11 Most Valuable Car Companies in the World with Korean car manufacturer Hyundai Motor. They announced their collaboration with Canoo, a California-based autonomous vehicle company, to create a fully electric framework for future EVs based on Canoo’s modular skateboard technology. Headquartered in Michigan, Ford Motor offers unbeatable value with its cars, pickups, SUVs, and trucks. The company represents about 12.1% of the North American car market, 6.8% of the European market, and 2.4% of the Chinese market as of 2020. Ferrari ranks 9th on the list of the 11 most valuable car companies in the World. The luxury sports car maker manufactures and distributes limited edition hypercars, track cars, and race cars. Ranking 8th on the 11 most valuable car companies is Japanese automobile manufacturer Honda Motor Co. Honda holds 5.78% of the global automobile market selling 4.8 million automobile units in 2020. In 2020, NIO launched its Battery-as-a-Service where EV buyers can acquire a discounted battery-less car and purchase a monthly battery subscription from NIO instead. BMW (Bayerische Motoren Werke) is one of the best car companies known for luxury cars. It is a well-established brand known for its value for money. Today, the car company is racing to catch EV industry leader Tesla Inc. Jump into the original article to see the Most Valuable Car Companies in the World.
