Home Cars Soaring stock sends Tesla market value past Ford, GM, making it the most valuable American automaker (on paper)

Soaring stock sends Tesla market value past Ford, GM, making it the most valuable American automaker (on paper)

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Tesla received some good news this week: Its market value of $53 billion now exceeds that of Ford and GM, Bloomberg reports. The nation's smallest automaker arrived at this enviable position via a 7 percent spike in share value earlier in the week, which took it past the vastly larger Ford Motor Co. and General Motors.

Overall, Tesla stock rose 38 percent in 2017.

Tesla's new market capitalization reality is slightly difficult to process: Ford's net income during the last five years amounted to $26 billion, while Tesla lost $2.3 billion during the same period. As Bloomberg notes, Tesla's sales of 40,697 vehicles in 2016 represent three weeks of sales of the Ford F-Series trucks, with Tesla coming in 30th in terms of sales in 2016.

What prompted the stock rally was Tesla's better than expected quarterly vehicle deliveries, with the electric automaker delivering 25,418 vehicles during the first three months of 2017. That's an increase of 69 percent over the same period in 2016, with Tesla crediting long-awaited gains in production capacity to the strong results.

Soaring stock sends Tesla market value past Ford, GM, making it the most valuable American automaker (on paper)

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