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Tesla became the largest automobile manufacturer in American history

The excitement of Wall Street investors with Tesla has recently pushed the company’s stock price to its highest level in history, reaching a market value that no company in the history of the United States has ever achieved. there.

Tesla stock has risen more than 160% since hitting a 52-week low in June. Currently, Tesla’s market value has reached $ 86.5 billion. This figure puts the electric carmaker’s value far ahead of many other American automakers in history.

Tesla became the largest automobile manufacturer in American history | ICT News

This achievement easily surpassed Ford’s record high of $ 76.1 billion in 1999 or more recently $ 67.7 billion in October 2017.

Currently, both stocks have lost a large amount of value, GM is only 50.7 billion and Ford worth 36.9 billion. Carmaker Fiat Chrysler ranks fourth with $ 22 billion.

Of course, Tesla is not Apple – the company has a market value of 1.4 trillion USD. However, this value is really significant because it is larger than many car manufacturers with a long history.

The company claims to have sold 367,500 cars worldwide in 2019, while GM sales in the US amount to 2.9 million, while in China it is 3 million. Similar figures for Ford are 2.4 million and 2.2 million, respectively.

Tesla actually grows faster than other car manufacturers. Their revenue has increased by 50% in 2019 and this growth and the hope of investors in the future situation has helped the company’s shares flourish.

Tesla stock has rallied in the past 7 months after revenue and profit improved significantly. Most notably, the factory in Shanghai went into operation earlier than expected. For short sellers of Tesla stocks earlier, analysts estimated they could lose up to $ 7 billion from their current value.

Still, Tesla has to work hard to become the most valuable carmaker in the world.

Toyota currently has a market value of 25 trillion yen, or US $ 228 billion. Volkswagen has a market capitalization of $ 100.4 billion. Currently, Tesla is larger than Honda, Nissan, Hyundai, BMW and Daimler.

[ Æsir Tales ]
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