Tesla passes GM,becomes USA most valuable Car Co!

Tesla Just Passed GM to Become America’s Most Valuable Carmaker
by David Welch
10 April 2017, 03:37 GMT-10
10 April 2017, 06:01 GMT-10
Musk eclipses company once famously tied to U.S.’s fortunes
Tesla ‘engenders optimism, freedom,’ analyst says in upgrade


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Tesla Overtakes GM as Top U.S. Automaker by Market Cap
Tesla Overtakes GM as Top U.S. Automaker by Market Cap
Elon Musk’s Tesla Inc. briefly surpassed General Motors Co. to become America’s most valuable carmaker, eclipsing a company whose well-being was once viewed as interdependent with the nation’s.

A week after topping Ford Motor Co., Tesla climbed as much as 3.7 percent in early Monday trading, boosting its market capitalization to $51 billion. The company was valued at about $1.7 billion more than GM as of 9:35 a.m. in New York and the two jostled for the lead spot in subsequent trading.

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The turnabout shows the extent to which investors have bought into Musk’s vision that electric vehicles will eventually rule the road. While GM has beat Tesla to market with a plug-in Chevrolet Bolt with a price and range similar to what Musk has promised for his Model 3 sedan coming later this year, the more than century-old company has failed to match the enthusiasm drummed up by its much smaller and rarely profitable U.S. peer.

“Tesla engenders optimism, freedom, defiance, and a host of other emotions that, in our view, other companies cannot replicate,” said Alexander Potter, an analyst at Piper Jaffray Cos., who upgraded the stock Monday after owning a Tesla for seven months and meeting with management. “As they scramble to catch up, we think Tesla’s competitors only make themselves appear more desperate.”

Tesla’s usurping of GM and Ford will undoubtedly spur debate over the relative value of Musk’s company compared with some of the world’s top-selling automakers. GM expects to earn more than $9 billion this year and analysts predict Ford will generate adjusted profit of about $6.3 billion. On that basis, Tesla is expected to lose more than $950 million.

according to the OG, tesla isnt even a company so that article has to be wrong

If it looks like shit, and smells like shit...

Nah it's not a real company.

Didn't that dude get funded to the tune of like 5 billion by the govt? I know GM took bail outs but I swear I read that he got most of his start up from tax dollars or some shit.

BigEyedFish -


according to the OG, tesla isnt even a company so that article has to be wrong

Jim Cramer said that like 2 years ago and then someone made a thread about it.

Ridiculous valuation.  And how the fuck do they have a book value of 55B?

Hilarious!  Company that makes a few thousand cars a year is "top automaker" 

Where's Mark 1?

ShanTheMan - Didn't that dude get funded to the tune of like 5 billion by the govt? I know GM took bail outs but I swear I read that he got most of his start up from tax dollars or some shit.


FYI



 



 



 



 



Tesla repays federal loan nearly 10 years early



 





 



Tesla Motors announced Wednesday that it has repaid a $465 million loan from the government nearly a decade before it was scheduled to do so.



 



The electric-car maker received the loan from the Department of Energy in January 2010, and it made its first payment this past December. That began what was supposed to be a 10-year repayment program, but plans have changed.



Tesla (TSLA) reported its first quarterly profit earlier this month, and Consumer Reports came out with a review calling the Tesla Model S the best car it ever tested. Those two facts, along with a significant short squeeze, helped send the stock soaring to record highs.



 



Tesla announced last week that it would sell additional shares of stock, and that founder Elon Musk would make a new $100 million investment as well. The company said it would use some of the proceeds to repay the loan this week.



"I would like to thank the Department of Energy and the members of Congress and their staffs that worked hard to create the [loan] program, and particularly the American taxpayer from whom these funds originate," Tesla co-founder and CEO Elon Musk said in a statement. "I hope we did you proud."



The early repayment ensures that Tesla won't join the loan program's list of high-profile failures.



 



Solar-panel maker Solyndra, which received a $527 million loan guarantee, filed for bankruptcy in 2011. And rival electric-car maker Fisker, which had a $192 million loan, missed its first scheduled repayment earlier this year and has essentially halted business operations.



The Department of Energy said Wednesday that losses in the loan program so far represent only about 2% of a $34 billion portfolio, and less than 10% of the $10 billion loss reserve Congress set aside in advance. Secretary of Energy Ernest Moniz called Tesla "living proof of the power of American innovation."



"When you're talking about cutting-edge clean energy technologies, not every investment will succeed -- but today's repayment is the latest indication that the Energy Department's portfolio of more than 30 loans is delivering big results for the American economy while costing far less than anticipated," Moniz said in a statement.



 



http://money.cnn.com/2013/05/22/autos/tesla-loan-repayment/index.html



 

didnt they get a lot of tax payer $$$$ ?

If you own the stock, sell it now and don't look back.

White347LX -

Hilarious!  Company that makes a few thousand cars a year is "top automaker" 

Did someone's Mustang lose a drag race to a Tesla p100d?

First the Red Wings miss the playoffs and now GM is confirmed as a second rate car company. Hopefully Mark1 seppukus.

Tim Duncan - 
White347LX -

Hilarious!  Company that makes a few thousand cars a year is "top automaker" 

Did someone's Mustang lose a drag race to a Tesla p100d?

My Chrysler 300 got raped by a P94 in St. Louis, it was awesome to see that car pull away like I was sitting still.

Thanks GucciGucciGucci

I WANTED TO BUY ONE BUT APPARENTLY THEY ARE MADE FOR TINY ASIANS AS MY HEAD ALMOST HIT THE ROOF AND I AM ONLY 6'1..............

Ramon Maroni - didnt they get a lot of tax payer $$$$ ?

Yeah and it seems it was a pretty good loan on the tax payers' part now.

Just LOL if you actually believe Tesla is worth that amount.

BIGWHITESEXY -


I WANTED TO BUY ONE BUT APPARENTLY THEY ARE MADE FOR TINY ASIANS AS MY HEAD ALMOST HIT THE ROOF AND I AM ONLY 6'1..............

Model X is your friend, plus more room for snacks.