Tesla Overtakes GM As America's Most Valuable Carmaker — The Future Is Here

Tesla is now the most valuable automaker in the United States after its market value raced past that of General Motors.

Electric carmaker Tesla is now the most valuable automaker in the United States after its total market cap value raced past that of General Motors in trading on Tuesday. Tesla had overtaken Ford on Monday.

Tesla Overtakes GM To Become The Most Valuable Automaker In The United States

Tesla's market cap has been on the rise after it reported that both car production and car deliveries were up during the first quarter of the year. Now valued at $53.06 billion each Tesla share is currently worth $303.89.

General Motors on the other hand like Ford, did not have a good first quarter and its stock is now worth $49.80 billion with a stock price of $34.40 per share.

Tesla Overtakes GM To Become The Most Valuable Automaker In The United States

The growth of Tesla's stock is mainly due to the potential of the company. Tesla is all set to start production of the Model 3, a car priced at $35,000 before tax benefits for green vehicles kick in. With over 400,000 pre-ordered, the Model 3 is sold out till mid-2018.

This was Tesla CEO Elon Musk's message on his favourite social watering hole on Monday taunting those who sold his company's stock short.

With the way the Tesla stock is rising, you can be sure that Musk must be still laughing.

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Read more on: #tesla
Article Published On: Wednesday, April 5, 2017, 14:20 [IST]
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