Following after the company's strong sales of its Model S and Model X vehicles, Tesla has turned out to have recently surpassed Ford as the second most valuable car company in America. It was found that the company's stock has allegedly surged nearly 6 percent on Monday to an all-time high. That said, the electric automaker's value has risen to $48 billion while Ford dipped to about $45 billion. This comes right after Ford's market share has been decreasing by 3 percent after its weak sales in March.
Tesla Model S Better Than Ford And GM Cars?
According to Fox 31, apart from surpassing Ford, Tesla has also inched closer to GM, whose stock has apparently fallen by 4 percent. Experts say that this result comes after Tesla has reported a sales increase that was well below forecasts and higher inventories. Currently, GM's value is $50.8 billion and consequently, Tesla is moving closer to Japan's Honda, which has a value of nearly $54 billion. Furthermore, while Tesla's stock has soared more than 35 percent, GM and Ford shares are said to have been lowered for the year.
Meanwhile, in one of his statements reported by Newsmax, Karl Brauer, a senior editor at Kelley Blue Book explains that investors are looking for something that is going to go up. With that, he means that a company's longevity to sustain a magnitude of six months to six years and Tesla has all these qualities.
It was found that Tesla has recently released delivery numbers for the first quarter of 2017, which indicates that the company has reached more than 25,000 vehicles. The figures presented have then been considered to beat the analysts' predictions of 23,000 to 24,000.As of the press time, the question of whether Tesla would be able to deliver all the Model 3s that it has promised for the ambitious $35,000 price tag.