Tesla is more valuable than the next 40 automakers combined

Traders reached for the sell button en masse yesterday after the Federal Reserve’s inflation concerns spooked the market, putting stocks under serious pressure in the afternoon with the S&P 500 Index dropping ~3%. That sell-off dragged stocks like Tesla down sharply, reversing some small portion of the more than 70% gains Tesla had made since the election, but it still leaves the company’s market cap well north of $1 trillion, a milestone it first crossed three years ago after signing a deal with rental-car company Hertz.

Back then, Tesla’s valuation overshadowed the entire industry. Little has changed. Indeed, Tesla is still flexing its financial dominance in the auto world, with the EV juggernaut’s $1.4 trillion market cap more than the next 40 largest public automakers combined, per data from CompaniesMarketCap. That includes industry heavyweights like Toyota ($233 billion), BYD ($109 billion), Xiaomi ($100 billion), and Ferrari ($78 billion).