Automobility Index
UNDERSTANDING VALUATIONS IN THE AUTOMOTIVE INDUSTRY

Challenges

WHAT DRIVES COMPANY VALUATIONS IN THE AUTOMOTIVE INDUSTRY?

The transformation of the automotive industry toward a more sustainable, electric, and digital future reconfigures automotive value chains and dramatically alters the market position of many companies.

Global capital markets reflect this altered automotive reality like nothing else. In recent years the market has seen some automotive companies lose market capitalization despite growing revenues, while others command massive stock-market valuations on the back of slender revenues.

In a world where previously valid mechanisms of corporate success and market value have shifted, automotive companies need new tools to calibrate their capital market strategies.

This is where the WisdomTree Berylls LeanVal Global Automotive Innovators Index (WCAR) comes into play. The WCAR is a financial instrument that uniquely reflects the ongoing transformation of the automotive industry.

WCAR automotive index

EXPERIENCE OUR AUTOMOBILITY INDEX

The WCAR automotive index exchange traded fund (ETF) covers the 100 most relevant and promising publicly listed automotive companies worldwide. It includes vehicle manufacturers, suppliers, dealer groups, mobility service providers, and infrastructure providers.

The index only extends to companies that generate the largest part of their revenues within the automotive industry. They are selected based on strict multi-tiered criteria that build on in-depth industry know-how, as well as analyses of fundamental data.

With its global coverage of the entire industry ecosystem, the index offers a comprehensive picture of the global automotive industry for the first time.

 

Selection criteria

THE BEST OF BOTH WORLDS: AUTOMOTIVE EXPERTISE AND CAPITAL MARKETS PERSPECTIVE

The WCAR allows you to capture the status quo of the automotive industry, and do so at the sector, regional, and industry level.

By combining automotive expertise with a capital markets perspective, Berylls is building a platform around the WCAR so as to provide tailored insights into global capital markets for companies in the automotive industry.

For each sector along the automotive value chain, we regularly select the best-performing companies. Only if they meet the following selection criteria do they qualify for the WCAR:

  • They need to be listed on a recognized stock exchange.
  • Only companies that generate more than 50% of their revenue in the automotive industry are included.
  • The free float market capitalization must be at least €1.5 billion.
  • In addition to “traditional” manufacturers and suppliers, we also evaluate new, innovative companies from the entire automobility spectrum, including electric, autonomous, and shared mobility businesses.

index story

TIMELINE

The idea of a comprehensive index of the most relevant publicly listed companies in the automobility sector was born. At the time nothing comparable existed. The BAX-70 was conceived as an index that reflected the 70 most relevant companies in the entire automotive ecosystem and characterized their future-oriented strategies.

2020

We partnered with LeanVal, a trusted financial partner that champions fundamental analysis of the index components. Together, we evaluated how best to leverage our knowledge to build an even better index – the AUTO100 – which covered the top 100 listed companies in the automobility sector. Solactive helped us launch this product as an additional partner.

2021

In early 2022, we joined forces with WisdomTree which, thanks to its expertise in thematic ETFs, is the perfect fit to issue an ETF tracking our very own automobility index. The highlight of this journey was the listing of the WisdomTree Global Automotive Innovators ETF (ticker: WCAR) on 27 September 2022 on the Deutsche Börse.

2022

current index companies

The Current WCAR 100

OEMs

TESLA INC | TOYOTA MOTOR CORPORATION | VOLKSWAGEN AG | DAIMLER AG | BYD COMPANY LIMITED | GENERAL MOTORS CO | BMW AG | STELLANTIS NV | HONDA MOTOR CO LTD | FORD MOTOR CO | GREAT WALL MOTOR COMPANY | VOLVO AB | FERRARI NV | HYUNDAI MOTOR CO LTD | PACCAR INC | KIA | SUZUKI MOTOR CORPORATION | PORSCHE AG | DAIMLER TRUCK AG | NISSAN MOTOR CO LTD | SUBARU CORPORATION | GEELY | GUANGZHOU AUTOMOBILE GROUP COMPANY LIMITED | RENAULT SA | ISUZU MOTORS LTD | YAMAHA MOTOR CO LTD | MAZDA | MITSUBISHI | SINOTRUK HONG KONG LTD | ZHENGZHOU YUTONG BUS CO -A | CHINA MOTOR CORP

SUPPLIERS

CONTEMPORARY AMPEREX TECHNOLOGY COMPANY LIMITED (CATL) | DENSO CORPORATION | APTIV PLC | CUMMINS INC | MICHELIN SCA | BRIDGESTONE CORPORATION | MAGNA INTERNATIONAL INC | CONTINENTAL AG | HYUNDAI MOBIS CO LTD | FUYAO GLASS INDUSTRY GROUP | AISIN SEIKI CO LTD | BORGWARNER INC | SUMITOMO ELECTRIC INDUSTRIES LTD | HUIZHOU DESAY SV AUTOMOTIV | KOITO MANUFACTURING CO LTD | LEAR CORP | GENTEX CORP | AUTOLIV INC | NGK INSULATORS LTD | SCHAEFFLER AG | STANLEY ELECTRIC CO LTD | GENTHERM INC | INFINEON TECHNOLOGIES AG | HUAYU AUTOMOTIVE SYSTEMS COMPANY LIMITED | ALLEGRO MICROSYSTEMS INC | ALLISON TRANSMISSION HOLDING | PIRELLI & C SPA | VALEO SA | FOX FACTORY HOLDING CORP | BREMBO SPA | FAURECIA SA | VISTEON CORP | GOODYEAR TIRE & RUBBER CO | ADIENT PLC | TOYOTA BOSHOKU | MINTH GROUP LTD | THE YOKOHAMA RUBBER COMPANY LIMITED | LINAMAR CORPORATION | JTEKT CORPORATION | NIFCO INC | SUMITIMO RUBBER INDUSTRIES LTD | TOYODA GOSEI |TOYO TIRE & RUBBER | DANA INCORPORATED | GS YUASA INTERNATIONAL | MANDO CORP

DEALER GROUPS

O'REILLY AUTOMOTIVE INC | LKQ CORP | D'IETEREN SA/NV | AUTONATION INC | PENSKE AUTOMOTIVE GROUP | USS CO LTD | GROUP 1 AUTOMOTIVE INC | CARGURUS INC | INCHCAPE PLC | COPART INC | GENUINE PARTS CO | CARMAX INC | HOTAI MOTOR COMPANY LTD | LITHIA MOTORS INC | AUTO TRADER GROUP PLC | ASBURY AUTOMOTIVE GROUP | BOYD GROUP SERVICES INC | RUSH ENTERPRISES INC-CL A | NEXTAGE CO LTD

MOBILITY SERVICE PROVIDERS

UBER | AVIS BUDGET GROUP | LYFT | SIXT SE

INFRASTRUCTURE PROVIDERS

Currently no company in this segment is included in the index.

Cooperation partners

EXPERTS LIKE US

Leanval Invest

The LeanVal Group provides institutional and semi-institutional clients with research and asset management, as well as a digital platform that helps them with their own research, reporting, development of investment concepts, and portfolio management. The aim is to provide the optimal level of support using both expert knowledge and an efficient digital platform. The group analyzes and invests on behalf of its clients in companies that work sustainably and transparently. Its management has decades of industry as well as academic experience when it comes to validated analysis and investment processes.

Wisdomtree

WisdomTree was founded in 2006 with a passion for creating better ways to index, innovate, and invest for clients, being the first investment manager to weight by dividends. WisdomTree has always challenged the status quo and believes investors should too.

Since launching in Europe in 2014, the European business has grown in terms of product range and assets under management. Today WisdomTree provides one of the most innovative ranges of UCITS ETFs and exchange traded products (ETPs), covering commodities, FX, equities, fixed income, and digital assets, as well as short and leveraged exposures.

Team

We are Automobility Index

CEO

Dr. Jan Burgard

I will never forget the moment when the first digital product brought a PowerPoint concept to life. I never want to miss that feeling again. In the meantime, we have taken another step: we no longer just develop on behalf of customers, but we develop…

Partner

Christian Grimmelt

In order to solve with our clients, the current and upcoming challenges of the automotive industry – we have to think different, break new grounds, and be passionate. At Berylls this is in our DNA.

Partner

Malte Broxtermann

Our work is special because we are true companions for our customers. For complex issues and all the way to where it hurts - even if sometimes you don't want to go there. It is nevertheless rewarding, because we create real, tangible added value in o…

Project Manager

Felix Scheb

Working on the „hottest topics“ of the automotive industry with a team of highly motivated and brilliant people – that is what Berylls is all about!

Senior Consultant

Björn Simon

To me, Berylls means being able to integrate my passion for the automotive industry into my everyday work and together with other automotive enthusiasts actively help to shape exciting future topics of the industry.

Consultant

Timotheus Wittek

Working at Berylls means to develop customized and sustainable mobility solutions with out clients – in an environment characterized by enthusiasm for the industry and impressive team spirit. Consulting, but different.