Maruti Suzuki has entered the list of top 10 automakers across the globe, in terms of market capital. The automaker’s double digit growth recorded last month has helped its market capital to be valued at Rs. 2 lakh crore, which equates to around US$31.55 billion, making it the 10th largest carmaker in the world, by market capitalization. This is the first time that an Indian auto company has been a part of the said list.
Others on the list include Volkswagen, with a market capital of US$80.5 billion, followed by Daimler, BMW, Tesla, Honda, General Motors, SAIC, Ford and Nissan. Maruti has thus surpassed global carmakers like Audi, Hyundai, Subaru and Renault to be on the said list. Additionally, Maruti Suzuki is the second most valued stock in terms of market capital to sales ratio, rated only behind Tesla.
Maruti is also expecting an earning growth of 14.5% in 2017 and 2018. This comes at a time when many other global automakers are expecting a single-digit growth.