Tesla Is Now Bigger Than Ford, GM, And BMW...
With today's near 1% rise to a new record high, Tesla just became the 4th largest (by market cap) automaker in the world - surpassing BMW at over $61 billion.
Tesla passed GM and Ford by market cap in April, and now ranks 4th in the world behind Toyota, Daimler, Volkswagen.
If you look at the different auto companies on paper, it does seem a bit proposterous, where Tesla is at this moment, versus some of the more established auto companies," Jessica Caldwell, director of industry analysis with automotive research firm Edmunds, said in an interview with CBC's On The Money on Monday..
Tesla sold 76,285 cars last year. That compares to over 10 million for GM worldwide, 6.65 million for Ford, and 2.36 million for BMW.
"I think Tesla has had a very high market cap for a long time, so I don't think this comes necessarily as a surprise, but when you compare it to someone like Ford [or GM] who has a wealth of resources, it does seem a little out of whack," Caldwell said.
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Cant believe zerohedge in on steemit. I have been a followers to your blog few years back and i feel i learnt alot from you and you always give out different perspective as well. Thank you
And they say cryptos are in a bubble.
They are wrong about cryptos being in a bubble. I posted two of the biggest reasons here: https://steemit.com/bitcoin/@wizzin/just-ignore-the-media-and-buy-cryptocurrency
I know that. I should have put the /sarcasm tag on my comment. TSLA is in the biggest bubble out there next to the Italian Bond Market.
So when everyone is driving an electric car, and there is no more gasoline to tax. And ethanol is subsidized, what will the politicians raise taxes on to make up the difference?
The politicians will start taxing km/miles instead. This is already under discussion in Sweden, insane but true.
What? How they gonna know how many miles you drive? The would have to have a GPS in every car. Who is going to agree to that?
They make no money.
Its not just about making money now, its about future earnings.
what about future losses?
Usually you have economy of scale...
If Tesla was not investing, they would make profit. Important to check the numbers and not rely on the news. However the value of Tesla is not reflecting the value of today, but possibly tomorrow.
For Elon its actually about doing what he loves and obviously creating products that will change the course of history. This is worth much more to him than money.
Automakers generally need $0.50 of capital investment (plant and equipment) for every $1.00 of revenue. So to even generate revenue from their new products, they are going to need a lot of big manufacturing investments. And they are going to need it real soon. If that were likely to happen, I doubt so many upper level Tesla officials would have been leaving over the last few months.
@zer0hedge
Thanks a lot for the lovable insights!
Recently, I wrote a Crazy Review of Supercars for steemians.
Please. check it out and vote