Tesla overtake VW as the 2nd most valuable car company in the world

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Thread: Tesla overtake VW as the 2nd most valuable car company in the world

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    Tesla overtake VW as the 2nd most valuable car company in the world

    Tesla surges past $100 billion market value, passing Volkswagen


    Bloomberg January 22, 2020 11:27 AM

    Tesla's market value has climbed above Volkswagen Group's for the first time to more than $100 billion, a threshold that will trigger a huge payout for Elon Musk if he can sustain the feat for months.

    Tesla is already valued more than Ford Motor and General Motors combined.

    The electric-car maker’s shares soared as much as 5.9 percent in early trading Wednesday, extending a 31 percent surge already this year.

    At the pre-market high of $579.51, Tesla’s market capitalization was roughly $104.5 billion, exceeding Volkswagen’s $100 billion. Tesla opened regular trading Wednesday morning rising 4.1 percent to $569.47.

    Musk, Tesla’s billionaire CEO, is eligible to receive the first tranche of an all-or-nothing pay award if the company’s market value stays above $100 billion for a sustained period. On paper, the first chunk of the award would net him about $346 million.

    Tesla shares have more than doubled since the company reported a surprise third-quarter profit and told investors it was ahead of schedule opening its factory in China and bringing out its next product, the Model Y crossover.

    Musk, 48, has built a commanding lead selling electric vehicles over established automakers.

    VW Group is the world’s largest automaker, selling 10.97 million vehicles last year. Tesla delivered about 367,500.
    Wall Street’s most bullish analyst on Tesla was behind Tuesday’s rally.

    New Street Research analyst Pierre Ferragu predicted the company will sell 2 million to 3 million cars per year after 2025 at industry-leading margins. He raised his price target by $270 to $800, the highest among analysts surveyed by Bloomberg.

    In another bullish report, brokerage Wedbush said on Wednesday that robust demand in China and Europe alongside "aggressive" trajectory of Gigafactory 3 production will boost fourth-quarter earnings.
    Tesla is set to report its earnings on Jan. 29 after markets close.

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    Re: Tesla overtake VW as the 2nd most valuable car company in the world

    Good for Tesla!

    This is an interesting article about how GM was once valued and what it might have been the equivalent of today. Looks like back in the day it was the Google/Apple of the day!

    https://www.barrons.com/articles/tes...gm-51578705408


    And as an FYI, Toyota's market cap is $202B.

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    Re: Tesla overtake VW as the 2nd most valuable car company in the world

    Can someone who knows about Tesla (I don’t) tell me if large drops in S and X sales in US were due to production issues or demand drying up? S down almost 50% in US!

    https://insideevs.com/news/392372/us...rough-q4-2019/

    http://carsalesbase.com/us-car-sales-data/tesla/
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    Re: Tesla overtake VW as the 2nd most valuable car company in the world

    Quote Originally Posted by dannyg View Post
    Can someone who knows about Tesla (I don’t) tell me if large drops in S and X sales in US were due to production issues or demand drying up? S down almost 50% in US!

    https://insideevs.com/news/392372/us...rough-q4-2019/

    http://carsalesbase.com/us-car-sales-data/tesla/
    It's due to the Model 3 sales. And the reason Model 3 sales are down in the US is because half of Freemont's production (7,000 Model 3s a week) is headed for transport ships to Europe and parts of Asia and Australia. Its why it was important for Tesla to get the China factory going quickly, with it presently producing 1500 cars a week. (GM knows a thing about how important China is) . Berlin's factory should up and running in about two years, helping Freemont move more product to the states.

    Elon stated on the last investor call that S/X sales are not important to the bottom line, that the 3 and to be delivered next month Y sales numbers are the numbers to watch. There are rumors that the S/X will be not be replaced as is in a couple of years. Until then,both will still be the first to get new tech such as the rumored denser batteries for longer range rolling out this fall, and new interiors. Both models are built on one line.

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    Re: Tesla overtake VW as the 2nd most valuable car company in the world

    Thanks for the info, Tesla's earnings tomorrow PM will be interesting!

    Per insideevs.com, overall EV sales in the US were up while PHEVs were down. Tesla US sales up 0.3% last year...less than Caddy's 1% increase!

    https://insideevs.com/news/393636/us...-charted-2019/
    https://seekingalpha.com/article/431...incoln-in-2019

    Per cleantechnica.com, 2019 EV/PHEV sales were down in US and China, up in Europe:

    https://cleantechnica.com/2020/01/18...tinue-to-grow/

    Overall EV/PHEV share up a tad.
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