General Motors and Ford Motor Company both cracked into the top 10 in the Fortune 500 list of the country's largest publicly-held businesses, the business magazine announced today.
GM jumped up to fifth place, from eighth, while Ford moved from 10th to ninth. Both automakers saw sales increase more than 10 percent last year, although both were outshined in terms of gained market share by their smaller, privately-held cross-town rival, Chrysler.
The list ranks closely held and public firms by their gross revenue, although Fortune says that it adjusts revenue to exclude excise taxes levied on companies.
GM and Ford also made it into Forbes' list of the 100 largest publicly held companies across the globe. In the Forbes list, which places equal weight on sales, profits, assets and market value, Ford was ranked 44th, which put it ahead of General Motors in 63rd. Volkswagen, at 17th, led the list among automakers, while Toyota hit 25th, Daimler came in 37th and Honda was ranked 59th. The list also included BMW at 61st, Nissan at 85th and Hyundai at 96th. Chrysler was not included in the Forbes list, but its parent company, Fiat, was ranked 314th.