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New Delhi: Tata Motors exceeded Kia Corporation’s market capitalisation on Monday for the first time since September 2018, becoming the world’s 16th most valuable automaker. Tata Motors is presently positioned just below Hyundai Motor, with a market worth of USD 27.15 billion.
Tata Motors, the top performer on the Nifty50 this year, set another new high on Monday after its Jaguar Land Rover (JLR) unit announced 30% year-on-year (y-o-y) growth in worldwide wholesale shipments in the current fiscal year’s June quarter.
JLR is projected to have a positive free cash flow of more than GBP 400 million when it reports its full financial results for the quarter later this month.
Tata Motors, the highest performer on the Nifty50 this year, has risen as much as 60%, compared to Kia Corporation’s 48% increase.
While high-margin Range Rover and Range Rover sports models account for 76% of Tata Motors’ order book, the United States accounts for around 25% of Kia’s overall revenue, with Korea accounting for about 20%.
While India and China contribute another 5% to Kia’s income, Europe and other areas account for the remaining 45%
Tata Motors’ shares has more than tripled since April 2020, allowing the business to close the gap with the Korean automaker. In reality, Kia Motors had a market capitalization of more than USD 10 billion in April 2020, which was three times that of Tata Motors.
