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  • Tesla becomes world's wealthiest car manufacturer

    Tesla overtakes Toyota to become world's most valuable carmaker

    Tesla has become the world's most valuable carmaker, overtaking Japan's Toyota, after its stock hit a record high.

    Shares in the electric carmaker touched $1,134 on Wednesday morning before falling back, leaving it with a market value of $209.47bn (165bn).

    That is roughly $4bn more than Toyota's current stock market value.

    However, Toyota sold around 30 times more cars last year and its revenues were more than 10 times higher.

    Shares in Tesla have surged since the start of 2020 as investors have begun to feel more confident about the future of electric vehicles.

    That is despite its founder Elon Musk having wiped $14bn off Tesla's value in May after tweeting that its share price was too high.

    After years of losses, the Californian firm has also delivered three profitable quarters in a row and maintained that momentum during the first three months of 2020 despite the coronavirus outbreak.

    Toyota, however, remains a far larger business in terms of sales.

    The Japanese company sold 10.46 million vehicles in the year to March and posted revenues of 30.2 trillion yen ($281.20bn).

    Tesla ended 2019 with sales of just $24.6bn, having delivered 367,200 vehicles last year.

    However, investors are excited by the US firm's potential, believing it could dominate the future electric car market.

    Analysts at the stockbroker Jefferies said the firm remained "significantly ahead of peers in product range, capacity and technology".

    In a reflection of that, the firm is also now worth around three times the combined value of US rivals General Motors and Ford.

    Mr Musk has said Tesla will deliver at least 500,000 vehicles in 2020, a forecast the company has not changed despite the coronavirus pandemic.

    https://www.bbc.co.uk/news/business-53257933
    Hugely fascinated by Musk and this company - what an achievement for a man that was once far from being one of the most successful businessmen in the world.

    Electric cars are the future...apparently.

  • #2
    Only because their cars are severely overpriced. If they want to further climate change, they should be aiming to produce more affordable vehicles.

    Comment


    • #3
      Originally posted by LittleLinda View Post
      Only because their cars are severely overpriced. If they want to further climate change, they should be aiming to produce more affordable vehicles.
      Agreed. But it’s an absolute marvel that this company is now worth more than massive brand names like Disney, Coke and all other car manufacturers that sell FAR more cars and that have greater accessibility.

      Comment


      • #4
        The world's #1 and #2 car manufacturers by car-production: Toyota and Volkswagen better come thru after Corona.
        My Chart

        Comment


        • #5
          With social distancing more people might just prefer cars to public transit

          Comment


          • #6
            Does Elon still need government subsidies?
            Waffles are checked cookies

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            • #7
              By buying a car (which, depending on where you live, is a necessity) you support super rich people either way, no matter the brand, but you may question whether you want to support someone as pompous as Musk.
              Is it offensive to fall in love with you and everything you do
              and everything you stand for?
              Could I break through your invisible wall, could I hide my pride for once,
              just to tell you that I see more?

              Comment


              • #8
                Originally posted by theMathematician View Post
                By buying a car (which, depending on where you live, is a necessity) you support super rich people either way, no matter the brand, but you may question whether you want to support someone as pompous as Musk.
                true... I'd rather throw my money at those German, French and Japanese billionaires instead of that troll from the US.
                My Chart

                Comment


                • #9
                  Originally posted by Wayne View Post

                  Agreed. But it’s an absolute marvel that this company is now worth more than massive brand names like Disney, Coke and all other car manufacturers that sell FAR more cars and that have greater accessibility.
                  That just further proves my point. Overpriced and aimed at rich idiots who care about prestige rather than actual selling points.

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