# Auto Manufacturers — company-by-company sector analysis

> Auto Manufacturers: Lucid Group, Inc. owns the largest revenue base AND the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-08-04. Not investment advice.

## Bottom line

Auto Manufacturers has underperformed S&P 500 by 20.8% over 52 weeks and 9.1% over 13 weeks. 1 of 12 covered companies beat the S&P 500 on Mansfield relative strength, while 3 of 12 beat the sector itself. Lucid Group, Inc. leads with revenue of $1,401 million, based on 3 of 12 comparable companies through Mar 2026.

## Sector relative strength

Auto Manufacturers has underperformed S&P 500 by 20.8% over the last 52 weeks. Over 13 weeks the gap is a lead of 9.1%. 1 of 12 covered companies currently beats the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. General Motors Company is the strongest against the sector itself at +16.6%.

13-week sector return versus NIFTY 500: 9.1%
52-week sector return versus NIFTY 500: -21%
Stocks leading NIFTY: 1/12
Stocks leading sector: 3/12

Central tension: The central tension: current leadership is concentrated, so durability matters more than rank.

Companies: 12
Combined market value: ₹15.5 L Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Ferrari N.V. (RACE): 61/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 19.2/35 | Capital efficiency 16.6/25 | Valuation 9.5/20 | Relative strength 16.1/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 2 of the last 12 weeks
   - Exact sum: 19.2 + 16.6 + 9.5 + 16.1 = 61.4
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
2. Ford Motor Company (F): 57/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 20.6/35 | Capital efficiency 10.9/25 | Valuation 11.0/20 | Relative strength 14.8/20
   - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 9 of the last 12 weeks
   - Exact sum: 20.6 + 10.9 + 11 + 14.8 = 57.3
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
3. General Motors Company (GM): 56/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 17.4/35 | Capital efficiency 13.7/25 | Valuation 9.0/20 | Relative strength 16.0/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 2 of the last 12 weeks
   - Exact sum: 17.4 + 13.7 + 9 + 16 = 56.1
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
4. Tesla, Inc. (TSLA): 45/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 19.3/35 | Capital efficiency 11.8/25 | Valuation 8.5/20 | Relative strength 5.8/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of the last 12 weeks
   - Exact sum: 19.3 + 11.8 + 8.5 + 5.8 = 45.4
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
5. Rivian Automotive, Inc. (RIVN): 43/100 — Thin evidence · provisional; evidence 55%
   - Growth & earnings 16.9/35 | Capital efficiency 6.2/25 | Valuation 10.0/20 | Relative strength 10.3/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 2 of the last 12 weeks
   - Exact sum: 16.9 + 6.2 + 10 + 10.3 = 43.4
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
6. Lucid Group, Inc. (LCID): 38/100 — Mixed-negative evidence; evidence 61%
   - Growth & earnings 15.0/35 | Capital efficiency 4.8/25 | Valuation 10.0/20 | Relative strength 8.5/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 2 of the last 12 weeks
   - Exact sum: 15 + 4.8 + 10 + 8.5 = 38.3
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7. LiveWire Group, Inc. (LVWR): 37/100 — Thin evidence · provisional; evidence 52%
   - Growth & earnings 17.9/35 | Capital efficiency 5.2/25 | Valuation 10.5/20 | Relative strength 3.8/20
   - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 17.9 + 5.2 + 10.5 + 3.8 = 37.4
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
8. Empery Digital Inc. (EMPD): 32/100 — Thin evidence · provisional; evidence 54%
   - Growth & earnings 7.9/35 | Capital efficiency 5.3/25 | Valuation 11.5/20 | Relative strength 7.4/20
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 2 of 8 weeks with a reading, within the last 12, ending 2026-07-10 (no longer priced)
   - Exact sum: 7.9 + 5.3 + 11.5 + 7.4 = 32.1
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
9. Stellantis N.V. (STLA): 45/100 — Thin evidence · provisional; evidence 43%
   - Growth & earnings 19.0/35 | Capital efficiency 11.2/25 | Valuation 10.0/20 | Relative strength 4.6/20
   - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 19 + 11.2 + 10 + 4.6 = 44.8
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
10. Robo.ai Inc. (AIIO): 44/100 — Thin evidence · provisional; evidence 31%
   - Growth & earnings 15.3/35 | Capital efficiency 15.7/25 | Valuation 10.0/20 | Relative strength 3.0/20
   - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 9 of the last 12 weeks
   - Exact sum: 15.3 + 15.7 + 10 + 3 = 44
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
11. Polestar Automotive Holding UK PLC (PSNY): 43/100 — Thin evidence · provisional; evidence 35%
   - Growth & earnings 18.3/35 | Capital efficiency 9.8/25 | Valuation 10.0/20 | Relative strength 4.9/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 3 of the last 12 weeks
   - Exact sum: 18.3 + 9.8 + 10 + 4.9 = 43
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
12. Lotus Technology Inc. (LOT): 42/100 — Thin evidence · provisional; evidence 48%
   - Growth & earnings 14.2/35 | Capital efficiency 14.3/25 | Valuation 10.0/20 | Relative strength 3.1/20
   - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of the last 12 weeks
   - Exact sum: 14.2 + 14.3 + 10 + 3.1 = 41.6
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

## Market action

General Motors Company has the strongest one-year price move in Auto Manufacturers at +65%. It also leads on Mansfield relative strength against the S&P 500 at +6.9%. 1 of 12 covered companies is above zero on that measure. Every line covers 314 weekly closes through 2026-08-04.

### Strongest one-year price performers
1. General Motors Company (GM): 65%
2. Rivian Automotive, Inc. (RIVN): 34%
3. Ford Motor Company (F): 26%
4. Tesla, Inc. (TSLA): -0.7%
5. Ferrari N.V. (RACE): -9.2%

### Strongest relative strength versus NIFTY 500
1. General Motors Company (GM): 6.9%
2. Ford Motor Company (F): -2.6%
3. Ferrari N.V. (RACE): -6.1%
4. Rivian Automotive, Inc. (RIVN): -9.8%
5. Tesla, Inc. (TSLA): -27%

## Revenue Scale & Growth Durability

What the numbers say: Lucid Group, Inc. is the scale leader at $1,401 million, 169.9% ahead of Lotus Technology Inc.. Lucid Group, Inc.'s growth is 61% from a $1,401 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Lucid Group, Inc. is the scale benchmark; Lucid Group, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Lucid Group, Inc.'s growth falls below Lucid Group, Inc.'s for two consecutive comparable reports while operating margin also compresses.

Evidence: Lucid Group, Inc. · $1,401 million | 169.9% versus #2 · Lotus Technology Inc. | 8/8 recent comparable periods | 3/12 companies · 187 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. Lucid Group, Inc. (LCID): ₹1.4K Cr
2. Lotus Technology Inc. (LOT): ₹519 Cr — older report
3. Empery Digital Inc. (EMPD): ₹0 Cr

### Revenue growth — fastest growers
1. Lucid Group, Inc. (LCID): 61%
2. Lotus Technology Inc. (LOT): -44% — older report
3. Empery Digital Inc. (EMPD): -100%

### 20-quarter Revenue history
- TSLA: Sep 2021 ₹13.8K Cr | Dec 2021 ₹17.7K Cr | Mar 2022 ₹18.8K Cr | Jun 2022 ₹16.9K Cr | Sep 2022 ₹21.5K Cr | Dec 2022 ₹24.3K Cr | Mar 2023 ₹23.3K Cr | Jun 2023 ₹24.9K Cr | Sep 2023 ₹23.4K Cr | Dec 2023 ₹25.2K Cr | Mar 2024 ₹21.3K Cr | Jun 2024 ₹25.5K Cr | Sep 2024 ₹25.2K Cr | Dec 2024 ₹25.7K Cr | Mar 2025 ₹19.3K Cr | Jun 2025 ₹22.5K Cr | Sep 2025 ₹28.1K Cr | Dec 2025 ₹24.9K Cr | Mar 2026 ₹22.4K Cr | Jun 2026 —
- GM: Sep 2021 ₹26.8K Cr | Dec 2021 ₹33.6K Cr | Mar 2022 ₹36.0K Cr | Jun 2022 ₹35.8K Cr | Sep 2022 ₹41.9K Cr | Dec 2022 ₹43.1K Cr | Mar 2023 ₹40.0K Cr | Jun 2023 ₹44.7K Cr | Sep 2023 ₹44.1K Cr | Dec 2023 ₹43.0K Cr | Mar 2024 ₹43.0K Cr | Jun 2024 ₹48.0K Cr | Sep 2024 ₹48.8K Cr | Dec 2024 ₹47.7K Cr | Mar 2025 ₹44.0K Cr | Jun 2025 ₹47.1K Cr | Sep 2025 ₹48.6K Cr | Dec 2025 ₹45.3K Cr | Mar 2026 ₹43.6K Cr | Jun 2026 —
- RACE: Sep 2021 ₹1.1K Cr | Dec 2021 ₹1.2K Cr | Mar 2022 ₹1.2K Cr | Jun 2022 ₹1.3K Cr | Sep 2022 ₹1.3K Cr | Dec 2022 ₹1.4K Cr | Mar 2023 ₹1.4K Cr | Jun 2023 ₹1.5K Cr | Sep 2023 ₹1.5K Cr | Dec 2023 ₹1.5K Cr | Mar 2024 ₹1.6K Cr | Jun 2024 ₹1.7K Cr | Sep 2024 ₹1.6K Cr | Dec 2024 ₹1.7K Cr | Mar 2025 ₹1.8K Cr | Jun 2025 ₹1.8K Cr | Sep 2025 ₹1.8K Cr | Dec 2025 ₹1.8K Cr | Mar 2026 ₹1.8K Cr | Jun 2026 —
- F: Sep 2021 ₹35.7K Cr | Dec 2021 ₹37.7K Cr | Mar 2022 ₹34.5K Cr | Jun 2022 ₹40.2K Cr | Sep 2022 ₹39.4K Cr | Dec 2022 ₹44.0K Cr | Mar 2023 ₹41.5K Cr | Jun 2023 ₹45.0K Cr | Sep 2023 ₹43.8K Cr | Dec 2023 ₹46.0K Cr | Mar 2024 ₹42.8K Cr | Jun 2024 ₹47.8K Cr | Sep 2024 ₹46.2K Cr | Dec 2024 ₹48.2K Cr | Mar 2025 ₹40.7K Cr | Jun 2025 ₹50.2K Cr | Sep 2025 ₹50.5K Cr | Dec 2025 ₹45.9K Cr | Mar 2026 ₹43.3K Cr | Jun 2026 —
- RIVN: Sep 2021 ₹1 Cr | Dec 2021 ₹54 Cr | Mar 2022 ₹95 Cr | Jun 2022 ₹364 Cr | Sep 2022 ₹536 Cr | Dec 2022 ₹663 Cr | Mar 2023 ₹661 Cr | Jun 2023 ₹1.1K Cr | Sep 2023 ₹1.3K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.2K Cr | Jun 2024 ₹1.2K Cr | Sep 2024 ₹874 Cr | Dec 2024 ₹1.7K Cr | Mar 2025 ₹1.2K Cr | Jun 2025 ₹1.3K Cr | Sep 2025 ₹1.6K Cr | Dec 2025 ₹1.3K Cr | Mar 2026 ₹1.4K Cr | Jun 2026 —
- STLA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 ₹85.0K Cr | Sep 2024 — | Dec 2024 ₹71.9K Cr | Mar 2025 — | Jun 2025 ₹74.3K Cr | Sep 2025 — | Dec 2025 ₹79.2K Cr | Mar 2026 — | Jun 2026 —
- LCID: Sep 2021 ₹0 Cr | Dec 2021 ₹26 Cr | Mar 2022 ₹58 Cr | Jun 2022 ₹97 Cr | Sep 2022 ₹195 Cr | Dec 2022 ₹258 Cr | Mar 2023 ₹149 Cr | Jun 2023 ₹151 Cr | Sep 2023 ₹138 Cr | Dec 2023 ₹157 Cr | Mar 2024 ₹173 Cr | Jun 2024 ₹201 Cr | Sep 2024 ₹200 Cr | Dec 2024 ₹234 Cr | Mar 2025 ₹235 Cr | Jun 2025 ₹259 Cr | Sep 2025 ₹337 Cr | Dec 2025 ₹523 Cr | Mar 2026 ₹282 Cr | Jun 2026 —
- PSNY: Sep 2021 — | Dec 2021 ₹809 Cr | Mar 2022 — | Jun 2022 ₹1.0K Cr | Sep 2022 — | Dec 2022 ₹1.4K Cr | Mar 2023 — | Jun 2023 ₹1.2K Cr | Sep 2023 — | Dec 2023 ₹1.1K Cr | Mar 2024 — | Jun 2024 ₹909 Cr | Sep 2024 — | Dec 2024 ₹1.1K Cr | Mar 2025 — | Jun 2025 ₹1.4K Cr | Sep 2025 — | Dec 2025 ₹1.6K Cr | Mar 2026 — | Jun 2026 —
- LOT: Sep 2021 — | Dec 2021 ₹1 Cr | Mar 2022 ₹1 Cr | Jun 2022 ₹1 Cr | Sep 2022 ₹1 Cr | Dec 2022 ₹6 Cr | Mar 2023 ₹19 Cr | Jun 2023 ₹111 Cr | Sep 2023 ₹188 Cr | Dec 2023 ₹361 Cr | Mar 2024 ₹173 Cr | Jun 2024 ₹225 Cr | Sep 2024 ₹255 Cr | Dec 2024 ₹272 Cr | Mar 2025 ₹93 Cr | Jun 2025 ₹126 Cr | Sep 2025 ₹137 Cr | Dec 2025 ₹163 Cr | Mar 2026 — | Jun 2026 —
- AIIO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 ₹1 Cr | Sep 2023 — | Dec 2023 ₹37 Cr | Mar 2024 — | Jun 2024 ₹7 Cr | Sep 2024 — | Dec 2024 ₹5 Cr | Mar 2025 — | Jun 2025 ₹1 Cr | Sep 2025 — | Dec 2025 ₹0 Cr | Mar 2026 — | Jun 2026 —
- LVWR: Sep 2021 — | Dec 2021 ₹10 Cr | Mar 2022 ₹10 Cr | Jun 2022 ₹13 Cr | Sep 2022 ₹15 Cr | Dec 2022 ₹9 Cr | Mar 2023 ₹8 Cr | Jun 2023 ₹7 Cr | Sep 2023 ₹8 Cr | Dec 2023 ₹15 Cr | Mar 2024 ₹5 Cr | Jun 2024 ₹6 Cr | Sep 2024 ₹4 Cr | Dec 2024 ₹11 Cr | Mar 2025 ₹3 Cr | Jun 2025 ₹6 Cr | Sep 2025 ₹6 Cr | Dec 2025 ₹11 Cr | Mar 2026 ₹5 Cr | Jun 2026 —
- EMPD: Sep 2021 ₹0 Cr | Dec 2021 ₹0 Cr | Mar 2022 ₹1 Cr | Jun 2022 ₹2 Cr | Sep 2022 ₹0 Cr | Dec 2022 ₹1 Cr | Mar 2023 ₹1 Cr | Jun 2023 ₹1 Cr | Sep 2023 ₹0 Cr | Dec 2023 ₹1 Cr | Mar 2024 ₹1 Cr | Jun 2024 ₹1 Cr | Sep 2024 ₹1 Cr | Dec 2024 ₹1 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹1 Cr | Sep 2025 ₹0 Cr | Dec 2025 ₹-1 Cr | Mar 2026 ₹0 Cr | Jun 2026 —

### 20-quarter Revenue growth history
- TSLA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 42% | Sep 2022 56% | Dec 2022 37% | Mar 2023 24% | Jun 2023 47% | Sep 2023 8.8% | Dec 2023 3.5% | Mar 2024 -8.7% | Jun 2024 2.3% | Sep 2024 7.9% | Dec 2024 2.2% | Mar 2025 -9.2% | Jun 2025 -12% | Sep 2025 12% | Dec 2025 -3.1% | Mar 2026 16% | Jun 2026 —
- GM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 4.7% | Sep 2022 56% | Dec 2022 28% | Mar 2023 11% | Jun 2023 25% | Sep 2023 5.4% | Dec 2023 -0.3% | Mar 2024 7.6% | Jun 2024 7.2% | Sep 2024 10% | Dec 2024 11% | Mar 2025 2.3% | Jun 2025 -1.8% | Sep 2025 -0.3% | Dec 2025 -5.1% | Mar 2026 -0.9% | Jun 2026 —
- RACE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 25% | Sep 2022 19% | Dec 2022 17% | Mar 2023 20% | Jun 2023 14% | Sep 2023 24% | Dec 2023 11% | Mar 2024 11% | Jun 2024 16% | Sep 2024 6.5% | Dec 2024 14% | Mar 2025 13% | Jun 2025 4.4% | Sep 2025 7.4% | Dec 2025 3.7% | Mar 2026 3.2% | Jun 2026 —
- F: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 50% | Sep 2022 10% | Dec 2022 17% | Mar 2023 20% | Jun 2023 12% | Sep 2023 11% | Dec 2023 4.5% | Mar 2024 3.1% | Jun 2024 6.4% | Sep 2024 5.5% | Dec 2024 4.9% | Mar 2025 -5.0% | Jun 2025 5.0% | Sep 2025 9.4% | Dec 2025 -4.8% | Mar 2026 6.4% | Jun 2026 —
- RIVN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 1,128% | Mar 2023 596% | Jun 2023 208% | Sep 2023 149% | Dec 2023 98% | Mar 2024 82% | Jun 2024 3.3% | Sep 2024 -35% | Dec 2024 32% | Mar 2025 3.0% | Jun 2025 13% | Sep 2025 78% | Dec 2025 -26% | Mar 2026 11% | Jun 2026 —
- STLA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 -13% | Sep 2025 — | Dec 2025 10% | Mar 2026 — | Jun 2026 —
- LCID: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 892% | Mar 2023 157% | Jun 2023 56% | Sep 2023 -29% | Dec 2023 -39% | Mar 2024 16% | Jun 2024 33% | Sep 2024 45% | Dec 2024 49% | Mar 2025 36% | Jun 2025 29% | Sep 2025 69% | Dec 2025 124% | Mar 2026 20% | Jun 2026 —
- PSNY: Sep 2021 — | Dec 2021 37% | Mar 2022 — | Jun 2022 95% | Sep 2022 — | Dec 2022 73% | Mar 2023 — | Jun 2023 19% | Sep 2023 — | Dec 2023 -19% | Mar 2024 — | Jun 2024 -26% | Sep 2024 — | Dec 2024 -0.6% | Mar 2025 — | Jun 2025 57% | Sep 2025 — | Dec 2025 45% | Mar 2026 — | Jun 2026 —
- LOT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 500% | Mar 2023 1,800% | Jun 2023 11,000% | Sep 2023 18,700% | Dec 2023 5,917% | Mar 2024 811% | Jun 2024 103% | Sep 2024 36% | Dec 2024 -25% | Mar 2025 -46% | Jun 2025 -44% | Sep 2025 -46% | Dec 2025 -40% | Mar 2026 — | Jun 2026 —
- AIIO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 600% | Sep 2024 — | Dec 2024 -86% | Mar 2025 — | Jun 2025 -86% | Sep 2025 — | Dec 2025 -100% | Mar 2026 — | Jun 2026 —
- LVWR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 -10% | Mar 2023 -20% | Jun 2023 -46% | Sep 2023 -47% | Dec 2023 67% | Mar 2024 -38% | Jun 2024 -14% | Sep 2024 -50% | Dec 2024 -27% | Mar 2025 -40% | Jun 2025 0.0% | Sep 2025 50% | Dec 2025 0.0% | Mar 2026 67% | Jun 2026 —
- EMPD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.0% | Jun 2023 -50% | Sep 2023 — | Dec 2023 0.0% | Mar 2024 0.0% | Jun 2024 0.0% | Sep 2024 — | Dec 2024 0.0% | Mar 2025 -100% | Jun 2025 0.0% | Sep 2025 -100% | Dec 2025 -200% | Mar 2026 — | Jun 2026 —

## Operating Economics & Margin Trend

What the numbers say: Ferrari N.V. leads opm at 29.7%; LiveWire Group, Inc. leads margin change at +407.9 percentage points.

Investor read: Ferrari N.V. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: Ferrari N.V. · 29.7% | 343.3% versus #2 · General Motors Company | 6/8 recent comparable periods | 8/12 companies · 152 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. Ferrari N.V. (RACE): 30%
2. General Motors Company (GM): 6.7%
3. Ford Motor Company (F): 5.4%
4. Tesla, Inc. (TSLA): 4.2%
5. Lotus Technology Inc. (LOT): -41% — older report

### Margin change — fastest expanders
1. LiveWire Group, Inc. (LVWR): +407.9 pp
2. Lotus Technology Inc. (LOT): +29.0 pp — older report
3. Ford Motor Company (F): +4.6 pp
4. Tesla, Inc. (TSLA): +2.1 pp
5. Ferrari N.V. (RACE): −0.6 pp

### 20-quarter OPM history
- TSLA: Sep 2021 15% | Dec 2021 15% | Mar 2022 19% | Jun 2022 15% | Sep 2022 17% | Dec 2022 16% | Mar 2023 11% | Jun 2023 9.6% | Sep 2023 7.6% | Dec 2023 8.2% | Mar 2024 5.5% | Jun 2024 6.3% | Sep 2024 11% | Dec 2024 6.2% | Mar 2025 2.1% | Jun 2025 4.1% | Sep 2025 5.8% | Dec 2025 5.7% | Mar 2026 4.2% | Jun 2026 —
- GM: Sep 2021 6.1% | Dec 2021 4.5% | Mar 2022 6.1% | Jun 2022 5.9% | Sep 2022 8.1% | Dec 2022 6.1% | Mar 2023 6.4% | Jun 2023 6.2% | Sep 2023 6.8% | Dec 2023 2.1% | Mar 2024 8.7% | Jun 2024 8.1% | Sep 2024 7.5% | Dec 2024 3.2% | Mar 2025 7.6% | Jun 2025 4.5% | Sep 2025 2.2% | Dec 2025 -8.1% | Mar 2026 6.7% | Jun 2026 —
- RACE: Sep 2021 26% | Dec 2021 23% | Mar 2022 26% | Jun 2022 25% | Sep 2022 24% | Dec 2022 22% | Mar 2023 27% | Jun 2023 30% | Sep 2023 27% | Dec 2023 24% | Mar 2024 28% | Jun 2024 30% | Sep 2024 28% | Dec 2024 27% | Mar 2025 30% | Jun 2025 31% | Sep 2025 28% | Dec 2025 29% | Mar 2026 30% | Jun 2026 —
- F: Sep 2021 3.8% | Dec 2021 2.0% | Mar 2022 3.9% | Jun 2022 7.1% | Sep 2022 1.3% | Dec 2022 3.5% | Mar 2023 5.1% | Jun 2023 5.5% | Sep 2023 2.6% | Dec 2023 -0.5% | Mar 2024 2.9% | Jun 2024 3.9% | Sep 2024 1.9% | Dec 2024 2.6% | Mar 2025 0.8% | Jun 2025 1.0% | Sep 2025 3.1% | Dec 2025 -25% | Mar 2026 5.4% | Jun 2026 —
- RIVN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -469% | Sep 2022 -331% | Dec 2022 -271% | Mar 2023 -217% | Jun 2023 -115% | Sep 2023 -108% | Dec 2023 -120% | Mar 2024 -123% | Jun 2024 -119% | Sep 2024 -134% | Dec 2024 -38% | Mar 2025 -53% | Jun 2025 -86% | Sep 2025 -63% | Dec 2025 -65% | Mar 2026 -64% | Jun 2026 —
- LCID: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -575% | Sep 2022 -352% | Dec 2022 -291% | Mar 2023 -517% | Jun 2023 -555% | Sep 2023 -546% | Dec 2023 -469% | Mar 2024 -423% | Jun 2024 -393% | Sep 2024 -385% | Dec 2024 -313% | Mar 2025 -294% | Jun 2025 -310% | Sep 2025 -280% | Dec 2025 -204% | Mar 2026 -350% | Jun 2026 —
- LOT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 -846% | Jun 2023 -165% | Sep 2023 -87% | Dec 2023 -63% | Mar 2024 -135% | Jun 2024 -91% | Sep 2024 -63% | Dec 2024 -70% | Mar 2025 -111% | Jun 2025 -128% | Sep 2025 -68% | Dec 2025 -41% | Mar 2026 — | Jun 2026 —
- AIIO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -445% | Mar 2024 — | Jun 2024 -239% | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 -736% | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- LVWR: Sep 2021 — | Dec 2021 -186% | Mar 2022 -151% | Jun 2022 -155% | Sep 2022 -143% | Dec 2022 -313% | Mar 2023 -321% | Jun 2023 -455% | Sep 2023 -311% | Dec 2023 -224% | Mar 2024 -611% | Jun 2024 -437% | Sep 2024 -597% | Dec 2024 -235% | Mar 2025 -753% | Jun 2025 -311% | Sep 2025 -330% | Dec 2025 -156% | Mar 2026 -346% | Jun 2026 —
- EMPD: Sep 2021 — | Dec 2021 — | Mar 2022 -730% | Jun 2022 -419% | Sep 2022 — | Dec 2022 -822% | Mar 2023 -472% | Jun 2023 -950% | Sep 2023 — | Dec 2023 -912% | Mar 2024 -411% | Jun 2024 -588% | Sep 2024 — | Dec 2024 -547% | Mar 2025 -459% | Jun 2025 -551% | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter Margin change history
- TSLA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +3.6 pp | Sep 2022 +2.6 pp | Dec 2022 +1.3 pp | Mar 2023 −7.8 pp | Jun 2023 −5.0 pp | Sep 2023 −9.6 pp | Dec 2023 −7.8 pp | Mar 2024 −5.9 pp | Jun 2024 −3.3 pp | Sep 2024 +3.2 pp | Dec 2024 −2.0 pp | Mar 2025 −3.4 pp | Jun 2025 −2.2 pp | Sep 2025 −5.0 pp | Dec 2025 −0.5 pp | Mar 2026 +2.1 pp | Jun 2026 —
- GM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −2.5 pp | Sep 2022 +2.0 pp | Dec 2022 +1.6 pp | Mar 2023 +0.3 pp | Jun 2023 +0.3 pp | Sep 2023 −1.3 pp | Dec 2023 −4.0 pp | Mar 2024 +2.3 pp | Jun 2024 +1.9 pp | Sep 2024 +0.7 pp | Dec 2024 +1.1 pp | Mar 2025 −1.1 pp | Jun 2025 −3.6 pp | Sep 2025 −5.3 pp | Dec 2025 −11.3 pp | Mar 2026 −0.9 pp | Jun 2026 —
- RACE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −1.5 pp | Sep 2022 −1.8 pp | Dec 2022 −0.8 pp | Mar 2023 +1.0 pp | Jun 2023 +4.7 pp | Sep 2023 +3.5 pp | Dec 2023 +2.6 pp | Mar 2024 +1.0 pp | Jun 2024 +0.2 pp | Sep 2024 +1.0 pp | Dec 2024 +2.6 pp | Mar 2025 +2.4 pp | Jun 2025 +1.0 pp | Sep 2025 0.0 pp | Dec 2025 +1.5 pp | Mar 2026 −0.6 pp | Jun 2026 —
- F: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +7.2 pp | Sep 2022 −2.5 pp | Dec 2022 +1.5 pp | Mar 2023 +1.2 pp | Jun 2023 −1.6 pp | Sep 2023 +1.3 pp | Dec 2023 −4.0 pp | Mar 2024 −2.2 pp | Jun 2024 −1.6 pp | Sep 2024 −0.7 pp | Dec 2024 +3.1 pp | Mar 2025 −2.1 pp | Jun 2025 −2.9 pp | Sep 2025 +1.2 pp | Dec 2025 −27.8 pp | Mar 2026 +4.6 pp | Jun 2026 —
- RIVN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +77,269.0 pp | Dec 2022 +4,273.7 pp | Mar 2023 +1,445.3 pp | Jun 2023 +354.6 pp | Sep 2023 +223.3 pp | Dec 2023 +150.5 pp | Mar 2024 +93.5 pp | Jun 2024 −4.1 pp | Sep 2024 −26.1 pp | Dec 2024 +82.1 pp | Mar 2025 +70.5 pp | Jun 2025 +33.2 pp | Sep 2025 +70.7 pp | Dec 2025 −26.7 pp | Mar 2026 −11.0 pp | Jun 2026 —
- LCID: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +1,42,482.5 pp | Sep 2022 +2,13,894.2 pp | Dec 2022 +1,549.4 pp | Mar 2023 +519.3 pp | Jun 2023 +19.3 pp | Sep 2023 −194.5 pp | Dec 2023 −178.0 pp | Mar 2024 +94.1 pp | Jun 2024 +162.6 pp | Sep 2024 +161.1 pp | Dec 2024 +156.3 pp | Mar 2025 +128.2 pp | Jun 2025 +83.1 pp | Sep 2025 +105.3 pp | Dec 2025 +108.9 pp | Mar 2026 −55.9 pp | Jun 2026 —
- LOT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −1,070.8 pp | Mar 2023 +6,774.6 pp | Jun 2023 +7,455.9 pp | Sep 2023 +11,775.0 pp | Dec 2023 +5,974.4 pp | Mar 2024 +711.2 pp | Jun 2024 +73.9 pp | Sep 2024 +24.2 pp | Dec 2024 −6.3 pp | Mar 2025 +23.8 pp | Jun 2025 −37.0 pp | Sep 2025 −5.4 pp | Dec 2025 +29.0 pp | Mar 2026 — | Jun 2026 —
- AIIO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 +8,046.6 pp | Sep 2024 — | Dec 2024 −1,161.4 pp | Mar 2025 — | Jun 2025 −497.1 pp | Sep 2025 — | Dec 2025 −1,74,201.3 pp | Mar 2026 — | Jun 2026 —
- LVWR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −127.1 pp | Mar 2023 −170.0 pp | Jun 2023 −300.4 pp | Sep 2023 −168.3 pp | Dec 2023 +89.6 pp | Mar 2024 −290.2 pp | Jun 2024 +18.5 pp | Sep 2024 −285.5 pp | Dec 2024 −10.9 pp | Mar 2025 −142.3 pp | Jun 2025 +125.7 pp | Sep 2025 +266.7 pp | Dec 2025 +78.4 pp | Mar 2026 +407.9 pp | Jun 2026 —
- EMPD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +4,772.0 pp | Dec 2022 +2,899.6 pp | Mar 2023 +258.1 pp | Jun 2023 −530.7 pp | Sep 2023 +1,074.4 pp | Dec 2023 −89.6 pp | Mar 2024 +61.4 pp | Jun 2024 +361.9 pp | Sep 2024 +811.5 pp | Dec 2024 +364.8 pp | Mar 2025 −48.4 pp | Jun 2025 +36.9 pp | Sep 2025 −16,260.7 pp | Dec 2025 +17,551.3 pp | Mar 2026 −36,453.0 pp | Jun 2026 —

## Profit Scale & Acceleration

What the numbers say: Empery Digital Inc. leads net profit at $233 million net cash; the second comparison lacks enough current evidence.

Investor read: Empery Digital Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Empery Digital Inc. · $233 million net cash | 50% versus #2 · Lotus Technology Inc. | Not enough history | 3/12 companies · 191 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. Empery Digital Inc. (EMPD): ₹-233 Cr
2. Lotus Technology Inc. (LOT): ₹-466 Cr — older report
3. Lucid Group, Inc. (LCID): ₹-3.4K Cr

### Profit growth — fastest growers

### 20-quarter Net profit history
- TSLA: Sep 2021 ₹1.7K Cr | Dec 2021 ₹2.3K Cr | Mar 2022 ₹3.3K Cr | Jun 2022 ₹2.3K Cr | Sep 2022 ₹3.3K Cr | Dec 2022 ₹3.7K Cr | Mar 2023 ₹2.5K Cr | Jun 2023 ₹2.6K Cr | Sep 2023 ₹1.9K Cr | Dec 2023 ₹7.9K Cr | Mar 2024 ₹1.4K Cr | Jun 2024 ₹1.4K Cr | Sep 2024 ₹2.2K Cr | Dec 2024 ₹2.1K Cr | Mar 2025 ₹420 Cr | Jun 2025 ₹1.2K Cr | Sep 2025 ₹1.4K Cr | Dec 2025 ₹856 Cr | Mar 2026 ₹491 Cr | Jun 2026 —
- GM: Sep 2021 ₹2.4K Cr | Dec 2021 ₹1.8K Cr | Mar 2022 ₹2.8K Cr | Jun 2022 ₹1.6K Cr | Sep 2022 ₹3.3K Cr | Dec 2022 ₹2.0K Cr | Mar 2023 ₹2.3K Cr | Jun 2023 ₹2.5K Cr | Sep 2023 ₹3.0K Cr | Dec 2023 ₹2.0K Cr | Mar 2024 ₹3.0K Cr | Jun 2024 ₹2.9K Cr | Sep 2024 ₹3.0K Cr | Dec 2024 ₹-2.9K Cr | Mar 2025 ₹2.9K Cr | Jun 2025 ₹1.9K Cr | Sep 2025 ₹1.3K Cr | Dec 2025 ₹-3.3K Cr | Mar 2026 ₹2.7K Cr | Jun 2026 —
- RACE: Sep 2021 ₹207 Cr | Dec 2021 ₹215 Cr | Mar 2022 ₹239 Cr | Jun 2022 ₹251 Cr | Sep 2022 ₹228 Cr | Dec 2022 ₹222 Cr | Mar 2023 ₹297 Cr | Jun 2023 ₹334 Cr | Sep 2023 ₹332 Cr | Dec 2023 ₹294 Cr | Mar 2024 ₹352 Cr | Jun 2024 ₹413 Cr | Sep 2024 ₹375 Cr | Dec 2024 ₹386 Cr | Mar 2025 ₹412 Cr | Jun 2025 ₹425 Cr | Sep 2025 ₹382 Cr | Dec 2025 ₹381 Cr | Mar 2026 ₹413 Cr | Jun 2026 —
- F: Sep 2021 ₹1.8K Cr | Dec 2021 ₹12.3K Cr | Mar 2022 ₹-3.1K Cr | Jun 2022 ₹638 Cr | Sep 2022 ₹-930 Cr | Dec 2022 ₹1.3K Cr | Mar 2023 ₹1.7K Cr | Jun 2023 ₹2.0K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹-523 Cr | Mar 2024 ₹1.3K Cr | Jun 2024 ₹1.8K Cr | Sep 2024 ₹896 Cr | Dec 2024 ₹1.8K Cr | Mar 2025 ₹473 Cr | Jun 2025 ₹-29 Cr | Sep 2025 ₹2.4K Cr | Dec 2025 ₹-11.1K Cr | Mar 2026 ₹2.6K Cr | Jun 2026 —
- RIVN: Sep 2021 ₹-1.2K Cr | Dec 2021 ₹-2.5K Cr | Mar 2022 ₹-1.6K Cr | Jun 2022 ₹-1.7K Cr | Sep 2022 ₹-1.7K Cr | Dec 2022 ₹-1.7K Cr | Mar 2023 ₹-1.3K Cr | Jun 2023 ₹-1.2K Cr | Sep 2023 ₹-1.4K Cr | Dec 2023 ₹-1.5K Cr | Mar 2024 ₹-1.4K Cr | Jun 2024 ₹-1.5K Cr | Sep 2024 ₹-1.1K Cr | Dec 2024 ₹-743 Cr | Mar 2025 ₹-541 Cr | Jun 2025 ₹-1.1K Cr | Sep 2025 ₹-1.2K Cr | Dec 2025 ₹-804 Cr | Mar 2026 ₹-416 Cr | Jun 2026 —
- STLA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 ₹5.6K Cr | Sep 2024 — | Dec 2024 ₹-127 Cr | Mar 2025 — | Jun 2025 ₹-2.3K Cr | Sep 2025 — | Dec 2025 ₹-20.1K Cr | Mar 2026 — | Jun 2026 —
- LCID: Sep 2021 ₹-524 Cr | Dec 2021 ₹-1.0K Cr | Mar 2022 ₹-81 Cr | Jun 2022 ₹-220 Cr | Sep 2022 ₹-530 Cr | Dec 2022 ₹-473 Cr | Mar 2023 ₹-780 Cr | Jun 2023 ₹-764 Cr | Sep 2023 ₹-631 Cr | Dec 2023 ₹-654 Cr | Mar 2024 ₹-681 Cr | Jun 2024 ₹-643 Cr | Sep 2024 ₹-992 Cr | Dec 2024 ₹-397 Cr | Mar 2025 ₹-366 Cr | Jun 2025 ₹-539 Cr | Sep 2025 ₹-978 Cr | Dec 2025 ₹-814 Cr | Mar 2026 ₹-1.0K Cr | Jun 2026 —
- PSNY: Sep 2021 — | Dec 2021 ₹-639 Cr | Mar 2022 — | Jun 2022 ₹-503 Cr | Sep 2022 — | Dec 2022 ₹24 Cr | Mar 2023 — | Jun 2023 ₹-342 Cr | Sep 2023 — | Dec 2023 ₹-840 Cr | Mar 2024 — | Jun 2024 ₹-544 Cr | Sep 2024 — | Dec 2024 ₹-1.5K Cr | Mar 2025 — | Jun 2025 ₹-1.2K Cr | Sep 2025 — | Dec 2025 ₹-1.2K Cr | Mar 2026 — | Jun 2026 —
- LOT: Sep 2021 — | Dec 2021 ₹-68 Cr | Mar 2022 ₹-103 Cr | Jun 2022 ₹-103 Cr | Sep 2022 ₹-159 Cr | Dec 2022 ₹-356 Cr | Mar 2023 ₹-159 Cr | Jun 2023 ₹-193 Cr | Sep 2023 ₹-174 Cr | Dec 2023 ₹-223 Cr | Mar 2024 ₹-258 Cr | Jun 2024 ₹-202 Cr | Sep 2024 ₹-206 Cr | Dec 2024 ₹-441 Cr | Mar 2025 ₹-182 Cr | Jun 2025 ₹-135 Cr | Sep 2025 ₹-66 Cr | Dec 2025 ₹-83 Cr | Mar 2026 — | Jun 2026 —
- AIIO: Sep 2021 — | Dec 2021 ₹-6 Cr | Mar 2022 — | Jun 2022 ₹-9 Cr | Sep 2022 — | Dec 2022 ₹-32 Cr | Mar 2023 — | Jun 2023 ₹-69 Cr | Sep 2023 — | Dec 2023 ₹-197 Cr | Mar 2024 — | Jun 2024 ₹-32 Cr | Sep 2024 — | Dec 2024 ₹-140 Cr | Mar 2025 — | Jun 2025 ₹-2 Cr | Sep 2025 — | Dec 2025 ₹-165 Cr | Mar 2026 — | Jun 2026 —
- LVWR: Sep 2021 ₹9 Cr | Dec 2021 ₹-18 Cr | Mar 2022 ₹-16 Cr | Jun 2022 ₹-20 Cr | Sep 2022 ₹-21 Cr | Dec 2022 ₹-22 Cr | Mar 2023 ₹-21 Cr | Jun 2023 ₹-41 Cr | Sep 2023 ₹-15 Cr | Dec 2023 ₹-33 Cr | Mar 2024 ₹-24 Cr | Jun 2024 ₹-25 Cr | Sep 2024 ₹-23 Cr | Dec 2024 ₹-23 Cr | Mar 2025 ₹-19 Cr | Jun 2025 ₹-19 Cr | Sep 2025 ₹-19 Cr | Dec 2025 ₹-18 Cr | Mar 2026 ₹-18 Cr | Jun 2026 —
- EMPD: Sep 2021 ₹-6 Cr | Dec 2021 ₹-15 Cr | Mar 2022 ₹-9 Cr | Jun 2022 ₹-10 Cr | Sep 2022 ₹-8 Cr | Dec 2022 ₹-8 Cr | Mar 2023 ₹-7 Cr | Jun 2023 ₹-23 Cr | Sep 2023 ₹-11 Cr | Dec 2023 ₹-3 Cr | Mar 2024 ₹-26 Cr | Jun 2024 ₹-1 Cr | Sep 2024 ₹-14 Cr | Dec 2024 ₹-5 Cr | Mar 2025 ₹-2 Cr | Jun 2025 ₹-4 Cr | Sep 2025 ₹-35 Cr | Dec 2025 ₹-109 Cr | Mar 2026 ₹-85 Cr | Jun 2026 —

### 20-quarter Profit growth history
- TSLA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 93% | Sep 2022 101% | Dec 2022 58% | Mar 2023 -23% | Jun 2023 15% | Sep 2023 -44% | Dec 2023 114% | Mar 2024 -45% | Jun 2024 -46% | Sep 2024 17% | Dec 2024 -73% | Mar 2025 -70% | Jun 2025 -16% | Sep 2025 -37% | Dec 2025 -60% | Mar 2026 17% | Jun 2026 —
- GM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -41% | Sep 2022 36% | Dec 2022 14% | Mar 2023 -16% | Jun 2023 53% | Sep 2023 -7.9% | Dec 2023 -0.7% | Mar 2024 26% | Jun 2024 15% | Sep 2024 0.5% | Dec 2024 -244% | Mar 2025 -3.4% | Jun 2025 -34% | Sep 2025 -57% | Dec 2025 — | Mar 2026 -5.2% | Jun 2026 —
- RACE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 22% | Sep 2022 10% | Dec 2022 3.3% | Mar 2023 24% | Jun 2023 33% | Sep 2023 46% | Dec 2023 32% | Mar 2024 19% | Jun 2024 24% | Sep 2024 13% | Dec 2024 31% | Mar 2025 17% | Jun 2025 2.9% | Sep 2025 1.9% | Dec 2025 -1.3% | Mar 2026 0.2% | Jun 2026 —
- F: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 15% | Sep 2022 -151% | Dec 2022 -90% | Mar 2023 — | Jun 2023 216% | Sep 2023 — | Dec 2023 -142% | Mar 2024 -20% | Jun 2024 -9.1% | Sep 2024 -24% | Dec 2024 — | Mar 2025 -65% | Jun 2025 -102% | Sep 2025 173% | Dec 2025 -704% | Mar 2026 439% | Jun 2026 —
- STLA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 -140% | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- PSNY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -3,600% | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- LVWR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -333% | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

## Return On Capital Employed

What the numbers say: Robo.ai Inc. leads ROCE at 135.7%, 114.6 percentage points above Lotus Technology Inc.. Stellantis N.V. has the strongest latest improvement at +4.4 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: Robo.ai Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: Robo.ai Inc. · 135.7% | 543.1% versus #2 · Lotus Technology Inc. | 2/7 recent comparable periods | 12/12 companies · 218 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. Robo.ai Inc. (AIIO): 136% — older report
2. Lotus Technology Inc. (LOT): 21% — older report
3. Ferrari N.V. (RACE): 6.8%
4. General Motors Company (GM): 0.8%
5. Stellantis N.V. (STLA): 0.6%

### ROCE change — fastest improvers
1. Stellantis N.V. (STLA): +4.4 pp
2. Polestar Automotive Holding UK PLC (PSNY): +3.2 pp — older report
3. Rivian Automotive, Inc. (RIVN): +1.7 pp
4. Ford Motor Company (F): +0.1 pp
5. Ferrari N.V. (RACE): +0.1 pp

### 20-quarter ROCE history
- TSLA: Sep 2021 5.6% | Dec 2021 6.5% | Mar 2022 8.7% | Jun 2022 5.8% | Sep 2022 8.2% | Dec 2022 8.0% | Mar 2023 5.1% | Jun 2023 4.4% | Sep 2023 3.0% | Dec 2023 3.1% | Mar 2024 1.7% | Jun 2024 2.2% | Sep 2024 3.5% | Dec 2024 1.9% | Mar 2025 0.5% | Jun 2025 1.0% | Sep 2025 1.7% | Dec 2025 1.4% | Mar 2026 0.9% | Jun 2026 0.4%
- GM: Sep 2021 1.0% | Dec 2021 0.9% | Mar 2022 1.3% | Jun 2022 1.2% | Sep 2022 2.0% | Dec 2022 1.5% | Mar 2023 1.5% | Jun 2023 1.6% | Sep 2023 1.7% | Dec 2023 0.5% | Mar 2024 2.1% | Jun 2024 2.1% | Sep 2024 1.9% | Dec 2024 0.8% | Mar 2025 1.8% | Jun 2025 1.1% | Sep 2025 0.6% | Dec 2025 -2.0% | Mar 2026 1.5% | Jun 2026 0.8%
- RACE: Sep 2021 4.9% | Dec 2021 4.6% | Mar 2022 5.3% | Jun 2022 5.5% | Sep 2022 4.8% | Dec 2022 4.7% | Mar 2023 5.8% | Jun 2023 6.6% | Sep 2023 6.2% | Dec 2023 5.4% | Mar 2024 6.1% | Jun 2024 6.9% | Sep 2024 6.3% | Dec 2024 6.0% | Mar 2025 6.6% | Jun 2025 6.7% | Sep 2025 6.1% | Dec 2025 5.9% | Mar 2026 6.1% | Jun 2026 6.8%
- F: Sep 2021 0.8% | Dec 2021 0.4% | Mar 2022 0.8% | Jun 2022 1.8% | Sep 2022 0.3% | Dec 2022 1.0% | Mar 2023 1.3% | Jun 2023 1.5% | Sep 2023 0.7% | Dec 2023 -0.1% | Mar 2024 0.7% | Jun 2024 1.1% | Sep 2024 0.5% | Dec 2024 0.7% | Mar 2025 0.2% | Jun 2025 0.3% | Sep 2025 0.9% | Dec 2025 -6.6% | Mar 2026 1.3% | Jun 2026 0.4%
- RIVN: Sep 2021 -14% | Dec 2021 -20% | Mar 2022 -12% | Jun 2022 -14% | Sep 2022 -15% | Dec 2022 -9.9% | Mar 2023 -8.0% | Jun 2023 -7.7% | Sep 2023 -9.4% | Dec 2023 -11% | Mar 2024 -10% | Jun 2024 -9.7% | Sep 2024 -8.9% | Dec 2024 -4.8% | Mar 2025 -5.0% | Jun 2025 -8.6% | Sep 2025 -8.2% | Dec 2025 -6.8% | Mar 2026 -7.5% | Jun 2026 -6.9%
- STLA: Sep 2021 — | Dec 2021 5.2% | Mar 2022 5.4% | Jun 2022 5.4% | Sep 2022 4.4% | Dec 2022 4.4% | Mar 2023 0.0% | Jun 2023 0.0% | Sep 2023 0.0% | Dec 2023 0.0% | Mar 2024 — | Jun 2024 — | Sep 2024 -1.1% | Dec 2024 -1.1% | Mar 2025 -0.5% | Jun 2025 -3.8% | Sep 2025 -9.5% | Dec 2025 -9.5% | Mar 2026 0.6% | Jun 2026 0.6%
- LCID: Sep 2021 -13% | Dec 2021 -11% | Mar 2022 -13% | Jun 2022 -13% | Sep 2022 -12% | Dec 2022 -10% | Mar 2023 -12% | Jun 2023 -11% | Sep 2023 -11% | Dec 2023 -10% | Mar 2024 -10% | Jun 2024 -10% | Sep 2024 -10% | Dec 2024 -9.2% | Mar 2025 -8.8% | Jun 2025 -11% | Sep 2025 -13% | Dec 2025 -15% | Mar 2026 -16% | Jun 2026 —
- PSNY: Sep 2021 -5.4% | Dec 2021 -6.3% | Mar 2022 -5.0% | Jun 2022 -12% | Sep 2022 -3.1% | Dec 2022 -3.0% | Mar 2023 -3.0% | Jun 2023 -3.8% | Sep 2023 -3.4% | Dec 2023 -9.7% | Mar 2024 -5.6% | Jun 2024 -3.1% | Sep 2024 -7.6% | Dec 2024 -8.0% | Mar 2025 -11% | Jun 2025 -6.8% | Sep 2025 -4.8% | Dec 2025 -4.8% | Mar 2026 — | Jun 2026 —
- LOT: Sep 2021 0.0% | Dec 2021 -12% | Mar 2022 — | Jun 2022 — | Sep 2022 -27% | Dec 2022 -70% | Mar 2023 -233% | Jun 2023 -263% | Sep 2023 -61% | Dec 2023 -171% | Mar 2024 -48% | Jun 2024 -51% | Sep 2024 -63% | Dec 2024 106% | Mar 2025 -24% | Jun 2025 -47% | Sep 2025 -310% | Dec 2025 21% | Mar 2026 — | Jun 2026 —
- AIIO: Sep 2021 — | Dec 2021 19% | Mar 2022 — | Jun 2022 21% | Sep 2022 — | Dec 2022 -14% | Mar 2023 — | Jun 2023 -35% | Sep 2023 — | Dec 2023 -312% | Mar 2024 — | Jun 2024 -516% | Sep 2024 — | Dec 2024 154% | Mar 2025 — | Jun 2025 125% | Sep 2025 — | Dec 2025 136% | Mar 2026 — | Jun 2026 —
- LVWR: Sep 2021 0.0% | Dec 2021 0.0% | Mar 2022 -7.1% | Jun 2022 -8.7% | Sep 2022 -9.9% | Dec 2022 -16% | Mar 2023 -6.7% | Jun 2023 -9.0% | Sep 2023 -7.9% | Dec 2023 -13% | Mar 2024 -12% | Jun 2024 -13% | Sep 2024 -14% | Dec 2024 -15% | Mar 2025 -14% | Jun 2025 -15% | Sep 2025 -18% | Dec 2025 -15% | Mar 2026 -17% | Jun 2026 -20%
- EMPD: Sep 2021 -171% | Dec 2021 -171% | Mar 2022 -58% | Jun 2022 -103% | Sep 2022 -92% | Dec 2022 -124% | Mar 2023 -75% | Jun 2023 69% | Sep 2023 173% | Dec 2023 117% | Mar 2024 -23,877% | Jun 2024 80% | Sep 2024 171% | Dec 2024 59% | Mar 2025 -19% | Jun 2025 -33% | Sep 2025 -16% | Dec 2025 -70% | Mar 2026 -73% | Jun 2026 —

### 20-quarter ROCE change history
- TSLA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +2.6 pp | Dec 2022 +1.5 pp | Mar 2023 −3.6 pp | Jun 2023 −1.4 pp | Sep 2023 −5.2 pp | Dec 2023 −4.9 pp | Mar 2024 −3.4 pp | Jun 2024 −2.2 pp | Sep 2024 +0.5 pp | Dec 2024 −1.2 pp | Mar 2025 −1.2 pp | Jun 2025 −1.2 pp | Sep 2025 −1.8 pp | Dec 2025 −0.5 pp | Mar 2026 +0.4 pp | Jun 2026 −0.6 pp
- GM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.0 pp | Dec 2022 +0.6 pp | Mar 2023 +0.2 pp | Jun 2023 +0.4 pp | Sep 2023 −0.3 pp | Dec 2023 −1.0 pp | Mar 2024 +0.6 pp | Jun 2024 +0.5 pp | Sep 2024 +0.2 pp | Dec 2024 +0.3 pp | Mar 2025 −0.3 pp | Jun 2025 −1.0 pp | Sep 2025 −1.3 pp | Dec 2025 −2.8 pp | Mar 2026 −0.3 pp | Jun 2026 −0.3 pp
- RACE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.1 pp | Dec 2022 +0.1 pp | Mar 2023 +0.5 pp | Jun 2023 +1.1 pp | Sep 2023 +1.4 pp | Dec 2023 +0.7 pp | Mar 2024 +0.3 pp | Jun 2024 +0.3 pp | Sep 2024 +0.1 pp | Dec 2024 +0.6 pp | Mar 2025 +0.5 pp | Jun 2025 −0.2 pp | Sep 2025 −0.2 pp | Dec 2025 −0.1 pp | Mar 2026 −0.5 pp | Jun 2026 +0.1 pp
- F: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.5 pp | Dec 2022 +0.6 pp | Mar 2023 +0.5 pp | Jun 2023 −0.3 pp | Sep 2023 +0.4 pp | Dec 2023 −1.1 pp | Mar 2024 −0.6 pp | Jun 2024 −0.4 pp | Sep 2024 −0.2 pp | Dec 2024 +0.8 pp | Mar 2025 −0.5 pp | Jun 2025 −0.8 pp | Sep 2025 +0.4 pp | Dec 2025 −7.3 pp | Mar 2026 +1.1 pp | Jun 2026 +0.1 pp
- RIVN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.0 pp | Dec 2022 +9.8 pp | Mar 2023 +4.4 pp | Jun 2023 +6.5 pp | Sep 2023 +5.2 pp | Dec 2023 −0.7 pp | Mar 2024 −2.1 pp | Jun 2024 −2.0 pp | Sep 2024 +0.5 pp | Dec 2024 +5.8 pp | Mar 2025 +5.1 pp | Jun 2025 +1.1 pp | Sep 2025 +0.7 pp | Dec 2025 −2.0 pp | Mar 2026 −2.5 pp | Jun 2026 +1.7 pp
- STLA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −0.8 pp | Mar 2023 −5.4 pp | Jun 2023 −5.4 pp | Sep 2023 −4.4 pp | Dec 2023 −4.4 pp | Mar 2024 — | Jun 2024 — | Sep 2024 −1.1 pp | Dec 2024 −1.1 pp | Mar 2025 — | Jun 2025 — | Sep 2025 −8.4 pp | Dec 2025 −8.4 pp | Mar 2026 +1.1 pp | Jun 2026 +4.4 pp
- LCID: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.1 pp | Dec 2022 +0.8 pp | Mar 2023 +1.5 pp | Jun 2023 +1.9 pp | Sep 2023 +0.7 pp | Dec 2023 +0.2 pp | Mar 2024 +1.5 pp | Jun 2024 +1.2 pp | Sep 2024 +0.7 pp | Dec 2024 +1.0 pp | Mar 2025 +1.5 pp | Jun 2025 −1.0 pp | Sep 2025 −3.3 pp | Dec 2025 −5.8 pp | Mar 2026 −6.8 pp | Jun 2026 —
- PSNY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +2.3 pp | Dec 2022 +3.3 pp | Mar 2023 +2.0 pp | Jun 2023 +8.3 pp | Sep 2023 −0.3 pp | Dec 2023 −6.7 pp | Mar 2024 −2.6 pp | Jun 2024 +0.7 pp | Sep 2024 −4.2 pp | Dec 2024 +1.7 pp | Mar 2025 −5.4 pp | Jun 2025 −3.7 pp | Sep 2025 +2.8 pp | Dec 2025 +3.2 pp | Mar 2026 — | Jun 2026 —
- LOT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −27.4 pp | Dec 2022 −57.9 pp | Mar 2023 — | Jun 2023 — | Sep 2023 −33.4 pp | Dec 2023 −101.7 pp | Mar 2024 +185.7 pp | Jun 2024 +212.6 pp | Sep 2024 −2.3 pp | Dec 2024 +277.6 pp | Mar 2025 +23.7 pp | Jun 2025 +3.8 pp | Sep 2025 −247.2 pp | Dec 2025 −85.3 pp | Mar 2026 — | Jun 2026 —
- AIIO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −33.5 pp | Mar 2023 — | Jun 2023 −56.7 pp | Sep 2023 — | Dec 2023 −297.6 pp | Mar 2024 — | Jun 2024 −480.4 pp | Sep 2024 — | Dec 2024 +466.1 pp | Mar 2025 — | Jun 2025 +640.5 pp | Sep 2025 — | Dec 2025 −18.7 pp | Mar 2026 — | Jun 2026 —
- LVWR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −9.9 pp | Dec 2022 −16.4 pp | Mar 2023 +0.4 pp | Jun 2023 −0.3 pp | Sep 2023 +2.0 pp | Dec 2023 +3.8 pp | Mar 2024 −5.7 pp | Jun 2024 −3.9 pp | Sep 2024 −5.6 pp | Dec 2024 −2.3 pp | Mar 2025 −1.7 pp | Jun 2025 −1.8 pp | Sep 2025 −4.6 pp | Dec 2025 +0.2 pp | Mar 2026 −3.0 pp | Jun 2026 −5.1 pp
- EMPD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +79.4 pp | Dec 2022 +46.9 pp | Mar 2023 −17.3 pp | Jun 2023 +171.6 pp | Sep 2023 +265.0 pp | Dec 2023 +240.6 pp | Mar 2024 −23,802.1 pp | Jun 2024 +11.2 pp | Sep 2024 −2.3 pp | Dec 2024 −57.2 pp | Mar 2025 +23,858.3 pp | Jun 2025 −113.2 pp | Sep 2025 −186.4 pp | Dec 2025 −129.5 pp | Mar 2026 −53.6 pp | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: There is not enough comparable evidence to name a reliable peg leader.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: No comparable leader | Not enough peers | Not enough history | 0/12 companies · 28 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

### PEG — lowest PEG

### P/E — lowest P/E
1. Empery Digital Inc. (EMPD): 0.0
2. Ford Motor Company (F): 10.2
3. LiveWire Group, Inc. (LVWR): 11.6
4. Stellantis N.V. (STLA): 13.8
5. Ferrari N.V. (RACE): 35.3

### 20-quarter PEG history
- TSLA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 1.6 | Jun 2023 2.7 | Sep 2023 — | Dec 2023 3.0 | Mar 2024 2.5 | Jun 2024 — | Sep 2024 3.7 | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- GM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.8 | Jun 2023 0.2 | Sep 2023 0.2 | Dec 2023 0.3 | Mar 2024 0.2 | Jun 2024 0.2 | Sep 2024 0.2 | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- RACE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 2.9 | Jun 2023 2.6 | Sep 2023 1.5 | Dec 2023 1.3 | Mar 2024 1.7 | Jun 2024 1.6 | Sep 2024 2.4 | Dec 2024 2.1 | Mar 2025 2.0 | Jun 2025 2.9 | Sep 2025 3.6 | Dec 2025 6.0 | Mar 2026 — | Jun 2026 —
- F: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 0.4 | Jun 2024 — | Sep 2024 — | Dec 2024 0.2 | Mar 2025 0.3 | Jun 2025 — | Sep 2025 0.3 | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter P/E history
- TSLA: Sep 2021 251.0 | Dec 2021 216.1 | Mar 2022 146.6 | Jun 2022 81.3 | Sep 2022 82.1 | Dec 2022 34.0 | Mar 2023 61.0 | Jun 2023 74.2 | Sep 2023 80.5 | Dec 2023 57.8 | Mar 2024 44.1 | Jun 2024 54.8 | Sep 2024 70.7 | Dec 2024 198.0 | Mar 2025 148.9 | Jun 2025 190.2 | Sep 2025 308.8 | Dec 2025 416.4 | Mar 2026 341.1 | Jun 2026 389.4
- GM: Sep 2021 7.1 | Dec 2021 8.8 | Mar 2022 7.3 | Jun 2022 6.0 | Sep 2022 5.4 | Dec 2022 5.5 | Mar 2023 5.7 | Jun 2023 5.4 | Sep 2023 4.6 | Dec 2023 4.9 | Mar 2024 5.5 | Jun 2024 5.2 | Sep 2024 4.8 | Dec 2024 8.4 | Mar 2025 6.8 | Jun 2025 7.8 | Sep 2025 12.3 | Dec 2025 24.9 | Mar 2026 30.0 | Jun 2026 38.9
- RACE: Sep 2021 38.1 | Dec 2021 50.6 | Mar 2022 42.2 | Jun 2022 35.6 | Sep 2022 37.4 | Dec 2022 39.2 | Mar 2023 46.0 | Jun 2023 50.6 | Sep 2023 43.1 | Dec 2023 44.4 | Mar 2024 55.9 | Jun 2024 49.6 | Sep 2024 53.2 | Dec 2024 48.3 | Mar 2025 44.9 | Jun 2025 46.8 | Sep 2025 46.2 | Dec 2025 35.2 | Mar 2026 32.5 | Jun 2026 35.3
- F: Sep 2021 20.2 | Dec 2021 4.7 | Mar 2022 5.9 | Jun 2022 3.9 | Sep 2022 5.1 | Dec 2022 — | Mar 2023 17.8 | Jun 2023 14.8 | Sep 2023 8.1 | Dec 2023 11.3 | Mar 2024 13.7 | Jun 2024 13.1 | Sep 2024 12.0 | Dec 2024 6.8 | Mar 2025 8.0 | Jun 2025 13.8 | Sep 2025 10.2 | Dec 2025 — | Mar 2026 — | Jun 2026 —
- STLA: Sep 2021 4.0 | Dec 2021 3.9 | Mar 2022 3.4 | Jun 2022 2.6 | Sep 2022 2.5 | Dec 2022 2.5 | Mar 2023 2.9 | Jun 2023 2.6 | Sep 2023 3.0 | Dec 2023 3.6 | Mar 2024 5.1 | Jun 2024 4.3 | Sep 2024 4.1 | Dec 2024 6.8 | Mar 2025 13.8 | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- LVWR: Sep 2021 — | Dec 2021 — | Mar 2022 14.7 | Jun 2022 11.6 | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- EMPD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 0.0 | Dec 2025 — | Mar 2026 — | Jun 2026 —


## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 3 companies have older fundamental reporting dates than the sector’s freshest reporters; their ranks carry a stale marker.
- Thin comparisons: Valuation have fewer than three usable current readings.

## Every company
- Tesla, Inc. (TSLA) — market value ₹12.9 L Cr; latest fundamentals Jun 2026
- General Motors Company (GM) — market value ₹77.5K Cr; latest fundamentals Jun 2026
- Ferrari N.V. (RACE) — market value ₹77.2K Cr; latest fundamentals Jun 2026
- Ford Motor Company (F) — market value ₹56.8K Cr; latest fundamentals Jun 2026
- Rivian Automotive, Inc. (RIVN) — market value ₹22.8K Cr; latest fundamentals Jun 2026
- Stellantis N.V. (STLA) — market value ₹16.7K Cr; latest fundamentals Jun 2026
- Lucid Group, Inc. (LCID) — market value ₹3.0K Cr; latest fundamentals Mar 2026
- Polestar Automotive Holding UK PLC (PSNY) — market value ₹2.1K Cr; latest fundamentals Dec 2025
- Lotus Technology Inc. (LOT) — market value ₹569 Cr; latest fundamentals Dec 2025
- Robo.ai Inc. (AIIO) — market value ₹422 Cr; latest fundamentals Dec 2025
- LiveWire Group, Inc. (LVWR) — market value ₹291 Cr; latest fundamentals Jun 2026
- Empery Digital Inc. (EMPD) — market value ₹97 Cr; latest fundamentals Mar 2026

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-08-04.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Is the Auto Manufacturers sector outperforming S&P 500?

Auto Manufacturers has underperformed S&P 500 by 20.8% over 52 weeks and 9.1% over 13 weeks. 1 of 12 covered companies beat the S&P 500 on Mansfield relative strength, while 3 of 12 beat the sector itself.

### Which Auto Manufacturers company is largest by revenue?

Lucid Group, Inc. leads with revenue of $1,401 million, based on 3 of 12 comparable companies through Mar 2026.

### Which Auto Manufacturers company is growing fastest?

Lucid Group, Inc. has the fastest current revenue growth at 61%, across 3 of 12 comparable companies.

### Which Auto Manufacturers company has the strongest 4-Factor Sector Score?

Ferrari N.V. ranks first at 61.4/100 with 57.8% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### How much history does this Auto Manufacturers comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

### Which Auto Manufacturers company is the biggest?

Lucid Group, Inc. is the largest, with trailing-twelve-month revenue of $1,401 million, ahead of Lotus Technology Inc. at $519 million. That covers 3 of 12 companies with comparable reporting through Mar 2026.

### Which Auto Manufacturers company has the best profit margins?

Ferrari N.V. has the highest operating margin at 29.7%, from 8 of 12 comparable companies. LiveWire Group, Inc. shows the biggest recent improvement, at +407.9 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Auto Manufacturers company makes the most profit?

Empery Digital Inc. earns the most, at $233 million of trailing-twelve-month net profit, from 3 of 12 comparable companies.

### Which Auto Manufacturers company earns the highest return on capital?

Robo.ai Inc. leads on return on capital employed at 135.7%, across 12 of 12 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Is the Auto Manufacturers sector beating the market?

Auto Manufacturers has underperformed S&P 500 by 20.8% over the last 52 weeks and 9.1% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 1 of 12 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Auto Manufacturers stock has the strongest price momentum?

General Motors Company has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Auto Manufacturers company scores highest for research priority?

Ferrari N.V. scores 61.4 out of 100 with 57.8% evidence confidence, from 19.2 points on growth and earnings, 16.6 on capital efficiency, 9.5 on valuation and 16.1 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Auto Manufacturers companies does this comparison cover, and over what period?

It compares 12 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Auto Manufacturers sector?

The 12 Auto Manufacturers companies on this page carry $1,550,371 million of combined market value. Tesla, Inc. is the largest at $1,292,884 million, about 83% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-04.

### What is the Auto Manufacturers sector's P/E ratio?

The median price-to-earnings ratio across the 12 Auto Manufacturers companies on this page is 13.8×, measured on the 7 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-04.

### How is the Auto Manufacturers sector performing?

1 of the 12 covered Auto Manufacturers companies are beating S&P 500 on Mansfield relative strength. The sector itself is 20.8% behind S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-04.

### How many Auto Manufacturers stocks are listed in the US?

This comparison covers 12 listed Auto Manufacturers companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.