Tesla Is The World’s Most Valuable Carmaker After Overtaking Toyota

• Tesla shares have nearly quintupled over the last 12 months.

• This is in part the result of an expected steady rise in EV sales globally.

• The global pandemic has hurt all “normal” carmakers.

Just a few days ago, we reported on the top 10 most valuable car brands in the world. At the time, according to the Brandz Top 100 most valuable companies, Toyota was still on top and Tesla was #4 among car brands. The reason for this discrepancy is that the Brandz report is based on a given period of time. In reality, the markets change and evolve every day, hence why Tesla’s now on top, ahead of Toyota.

What continues to amaze everyone is that Tesla’s sales volume is still a fraction of Toyota’s which was about 10 million units in 2019. 12 months ago, according to the Financial Times, Tesla shares were valued at $230/share but have since skyrocketed to $1,100 just yesterday. This has set the company’s market capitalization to $205 billion, while Toyota has “dropped” to $200 billion.

Interestingly enough, Tesla’s Musk tweeted last May that his company’s stock, then evaluated at $755 a share, was too high. Apparently, someone took this as a personal challenge…

Tesla’s phenomenal success is a combination of its design, technology, and the lifestyle it provides. And it doesn’t look like Musk and Tesla are about to slow down.