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Stock surge makes Tesla the world’s most valuable automaker
https://arstechnica.com/cars/2020/07/stock-surge-makes-tesla-the-worlds-most-valuable-automaker/:
One share of Tesla stock traded for more than $1,130 on Wednesday, pushing the company's market capitalization to nearly $210 billion. That sent Tesla's market cap past Toyota, which is worth either $170 billion or $203 billion, depending on how you count it. Tesla is now the world's most valuable car company.
It's a remarkable milestone for a company that sells far fewer cars than its leading rivals. Toyota and its subsidiaries sold 10.7 million vehicles in 2019, while Volkswagen and its subsidiaries sold almost 11 million vehicles. Tesla sold a comparatively tiny 367,500 vehicles last year.
Tesla stock leaps again on unexpectedly strong delivery numbers
Tesla has surprised Wall Street again with better-than-expected delivery numbers. The electric carmaker delivered 90,650 vehicles in the second quarter of 2020, up slightly from the 88,400 vehicles delivered in the first quarter. This despite the fact that Tesla's main factory in Fremont, California, was shut down by county officials for the first half of the quarter.
Tesla's stock leapt at the news. After closing at a record high of $1,120 yesterday, Tesla's shares rose above $1,200 in pre-market trading on Thursday morning.
(Score: 0) by Anonymous Coward on Friday July 03 2020, @07:07PM (1 child)
No, they are not. They are scared shitless of Tesla not because Tesla makes EV cars. They are scared because Tesla makes these cars *efficiently* and is getting better.
Ignoring Tesla now is like ignoring SpaceX a decade ago - low budget, no connections company. Today SpaceX is killing the rest of the field. Tesla cars are not Model 3. They are iterating that Model 3 and improving it while the others don't have anything to even start in the race.
(Score: 2) by ledow on Sunday July 05 2020, @01:50AM
Ford, on their own, literally sold more cars in every month of 2019 than Tesla sold in the whole of 2019 - it's best ever year.
Telsa would have to multiply their sales by 12 over the course of 2020 to even be a threat akin to one major ICE car manufacturer. There are a dozen companies selling those kinds of amounts of cars. Tesla are small-fry. Sure, they might grow and suddenly take over the market. But you think Ford are just sitting there going "Oh, no, whatever can we do?" Ford's R&D budget for the last couple of years could probably make every Tesla car ever made in Tesla's history.
I don't see Ford - or anyone else - pushing out a dozen models of electric car, comparing them against Tesla left, right and centre, providing incentives to people to use them rather than Tesla... they're not even on the road map. They're biding their time and catering for the only market that's selling. They aren't going to cut a million cars a quarter just to start making a car that in many markets most people can't afford, charge or use for their intended purpose. You can't have a Tesla without a lot of electric parking spots nearby - my town has precisely 12 slots... not locations, 12 chargers. Most of them not fast charged. 100,000+ people are expected to share 12 chargers, all in the middle of town (and some in things like supermarkets that close at night, etc.).
Tesla is a blip, which will have a very noticeable turn when/if it starts to take over. And I highly doubt that Ford et al are just sitting on their laurels. And when they decide it's profitable, they can push over 10 times what Tesla has ever made in its best year in a couple of months - and at that time, all the others will also push - in my market that's BMW, Mercedes, Audi, Citroen, Dacia, Fiat, Honda, Hyundai, Kia, Lexus, Mazda, MG, Mini, Renault, Nissan, Seat, Skoda, Smart, Suzuki, Toyota, Vauxhall, Volkwagen, Volvo... and those are just the ones that sell ordinary cars to ordinary people.
You really think all those companies, some a hundred years old, many churning out ten-times what Tesla has ever managed to do, with hundreds of times more cars on the road than Tesla has ever produced in its entire history, are all just going to be saying: "Oh, well... now that Tesla has taken over all our sales, maybe we should look at electric cars"? With an ICE ban just 5/10 years away in some markets?
(SpaceX is a radically different industry with very few players and very few customers).