Volkswagen beats Toyota to become No 1 auto company in 2014 Fortune 500 list
Volkswagen AG is on the 2014 Fortune Global 500 list which was revealed earlier this week. The eight largest company in the world and No. 1 automotive company by way of revenue as per Fortune Global 500, Volkswagen surpassed Toyota in the latest list. For 2013, VW was ranked 9th, and Toyota was ranked 8th. For 2014, its vice versa.
Volkswagen AG reported revenue of $261.5 billion, while Toyota reported $256.5 billion. The respective figures for last year stood at $247.60 billion and $265.70 billion. This indicates that while VW managed to increase their revenue, Toyota instead declined.
The top 10 Fortune Global 500 2014 is led by WalMart and followed by Shell, Sinopec, China National Petroleum, ExxonMobil, BP (British Petroleum), State Grid Corporation of China, Volkswagen, Toyota, and Glencore.
A total of 128 US companies were in the list of Global 500, highest for any country in the world. This was followed by China with 95 companies. India has 8 companies in the list of Fortune Global 500 2014. Among these are Reliance Industries (114), Bharat Petroleum (242), Hindustan Petroleum (284), State Bank of India (303), Oil and Natural Gas Corporation (424), Tata Motors and Tata Steel.
The number of Japanese companies on the 2014 Fortune Global 500 list has fallen from 62 last year to 57 in 2014 with Toyota Motor Corp is the only domestic company in the top ten list. It was noted that Toyota earned $18.2 billion last year though sales are slated to fall considerably this year due to a strengthening Yen and rise in taxes. Other Japanese companies auto majors finding mention on this esteemed list included Honda Motor Co at No 45 and Nissan Motor Co at No. 61.