In 2023, Tesla's brand value amounted to 67.66 billion U.S. dollars, down from around 76 billion dollars a year earlier – an annual decrease of nearly 11 percent.
The most valuable automotive brand worldwide: Tesla
Established in 2003 and headquartered in Austin, Texas, automotive and clean energy giant Tesla ranked eighth among the largest companies worldwide by market capitalization as of May 2023. The holding was the largest brand from the auto sector on the list. The global powerhouse generated revenue of 81.46 billion dollars in the 2022 fiscal year worldwide, an increase of 50 percent from the previous fiscal year.
Spotlight on the electric vehicles sector
Although conventional automobiles still prevail, the popularity of electric vehicles (EVs) continues to rise. During the five years between 2017 and 2022, the global market share of electric vehicles within passenger car sales went from 1.4 to 14 percent. In 2022, Tesla ranked second among the best-selling electric vehicle manufacturers worldwide after Chinese manufacturer BYD. Tesla had a market share of 13 percent that year, while BYD's share stood at 18.4 percent.
