Image

Tesla Is Now Worth More Than Ford Motor Company

Tesla Is Now Worth More Than Ford Motor Company
User Avatar
Updated 1 year ago

It’s official: Tesla is now the second most valuable car company in the US. The electric vehicle manufacturer headed by Elon Musk, set a new record in the first quarter by delivering 25,000 vehicles.

The company’s stock surged nearly 6% on Monday to an all-time high after reporting strong sales of its Model S and Model X vehicles. In comparison, Ford's shares sank 3% following a weak sales report for March.

Giving another major US auto maker a reason to panic, Tesla also inched closer to GM, whose stock fell 4%, citing high inventories and failing to meet its sales forecasts. Now, Tesla is just a few billion behind GM's $50.9 billion market cap. Shares of GM and Ford are now both lower for the year, while Tesla's stock has soared more than 35%.

As Tesla enters its 14th year, it’s uncertain if the company will continue to beat other automakers in terms of market value. Tesla’s ambitious goals include aiming to deliver 50,000 cars in the first half of this year and 500,000 cars by the end of 2018. The company also has plans to build at least three more Gigafactories later this year. 

Though Tesla may be beginning to hit its stride, the company has a history of missing deadlines, and unlike Ford or GM, is still losing money. Last year Tesla posted a loss of $773 million last year and expects to report losses for the rest of 2017.

Musk remains undeterred by his company's losses as Tesla looks forward to its upcoming Model 3 car, which could help make Tesla much more accessible to the average consumer. Anticipated for release later this year, the Model 3 should cost roughly $35,000.

RecircStyle7 Etsy Shops Full Of Cruelty-Free Skincare

These seven Etsy shops from around the world offer an impressive range of cruelty-free products you can feel good about putting on your face.

By Marissa Higgins
4 days ago
RecircNews72 Million New Homes Will Run On Solar Power By 2030

A new report shares why decentralized energy grids will power the homes of the future and make a major difference in the lives of those in developing countries currently with limited or zero access to electricity. 

By Koty Neelis
5 days ago
RecircNewsStarbucks And McDonalds Team Up To Create A Compostable To-Go Cup

Starbucks and McDonalds are working together to rethink to-go cups and inviting others to join them in creating eco-friendly packaging in an effort to reduce waste and environmental impact.

By Koty Neelis
5 days ago
RecircFoodMeat And Dairy Corporations Could Soon Beat Oil As World's Worst Polluters

A new report finds that meat and dairy producers are on track to surpass the oil industry's greenhouse gas emissions.

By Kristin Hunt
5 days ago
Stay Green
Sign up for our newsletter