Wednesday, February 28, 2024
News Tesla’s Market Value Continues To Soar

Tesla’s Market Value Continues To Soar

Tesla’s share price has more than tripled in three months – Is this sustainable?

  • Two weeks ago, Tesla reached $100 billion.
  • Earlier this week, $150 billion.
  • Although the value rose 50%, it’s still about $90 billion from Toyota.

Just over ten days ago, we reported that, although Tesla’s stock value had soared past Volkswagen’s value, they’d still even come close to delivering as many vehicles as the German giant in one year. As it stands, Tesla’s value has climbed to $150 billion, closing in on Toyota who is still number one.

Now, these facts and figures are not to be mistaken with being the most valuable car brand. This title belongs to Mercedes-Benz. Confused? Don’t worry, we need to remind ourselves once in a while that there’s a difference.

What’s driving Tesla’s market value to the stratosphere is the company’s electric car technology, battery development and sustained consumer interest. To draw a parallel, Tesla delivered nearly 370,000 cars in 2019 (50% more than 2018), compared to nearly 11 million for Volkswagen and just over 9 million for Toyota. Volume is not exactly a marker, as you can see, but projected Tesla sales forecasts of 500,000 for 2020 and of 2 million by 2030 is keeping investors very much in love with the electric car maker.

Source: BBC News

Tesla Cybertruck interior

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Matt St-Pierre
Trained as an Automotive Technician, Matt has two decades of automotive journalism under his belt. He’s done TV, radio, print and this thing called the internet. He’s an avid collector of many 4-wheeled things, all of them under 1,500 kg, holds a recently expired racing license and is a father of two. Life is beautiful. Send Matt an emai

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