Analysis of Indian Automakers’ Resilience after COVID-19: Comparison between Indian and Japanese Automakers

Basabi Chakraborty, Bonthala Sreekanth and Yukari Shirota

Gakushuin Economic Papers, 2024, vol. 61, issue 3, 183-194

Abstract: The present paper analyzes the Market Capitalization (MC) growth rates of Indian automakers, highlighting their impressive recovery from COVID-19. To assess this growth, the study compares Indian automakers to their Japanese counterparts using AI-based clustering methods, focusing on Amplitude-based clustering to evaluate growth variance. The study avoids data standardization to preserve variance data. After the amplitude-based clustering, dimensionality reduction techniques, including PCA, t-SNE, and UMAP, are applied to the distance matrix obtained from clustering. The results consistently show that Indian automakers have significantly higher recovery and growth rates than Japanese automakers.

Date: 2024
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