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Thursday, 11 June 2020 21:18

Tesla Is Now Worth More Than GM, Ford, FCA Combined

Written by Brad Bergan, Interesting Engineering

Toyota is no longer the most valuable automaker in the world.

Tesla has ascended to the top position, worth more than Ford, GM, and FCA combined, according to a handy fan-made spreadsheet.

 

With a market capitalization valued at roughly $185 billion, Tesla is now worth more than Volkswagen Group, Daimler, Toyota, Honda and Daimler.

 

The fan-made spreadsheet was made using Yahoo and Google data to track automaker valuation, and it showed Tesla surging to first place on June 10. As of writing, Tesla's stock is sitting at roughly $1,014 per share, after a rise of roughly $72 from June 9.

 

This places more valuation distance between Tesla and other U.S. rivals Ford, GM, and FCA. As of June 10, GM's worth was roughly $41 billion, with Ford at $27 billion and FCA sitting at roughly $20 billion.

 

For a long time, Tesla's market valuation was more than all three, but then the stock continued its upward motion until the all-electric automaker cemented a major milestone, according to CNET.

 

The all-electric automaker has seen consistent market value growth, which gave CEO Elon Musk a payday of roughly $700 million earlier in 2020. Musk doesn't take a salary as CEO of the company, but he still earns stock options at a low price to sell at market rate whenever he chooses.

 

However, there's little data available to explain the recent jump in valuation, but Wedbush Securities lifted its target share price to $1,000 on June 10. The investment firm pointed to "game-changing" developments as a reason behind the lift in target price.

 

Skeptics of Tesla's valuation have surrounded the all-electric automaker for years. In January, Bank of America analysts forecasted a 12-month average stock price of only $350 for Tesla. While the company's stock value did fall near to that level in March, it has since made an impressive comeback.

 

We thank Interesting Engineering for reprint permission. 

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