Tesla's stock has soared but its vehicle output is still just a blip
Investors bet big on Tesla this year, helping its market cap reach $51 billion and briefly beat out General Motors, Ford, and Fiat Chrysler (aka "the big three") to claim the title of most valuable car manufacture. But vehicle delivery numbers shown in this chart from Statista show that Tesla's actual vehicle production is far below its competitors. Even CEO Elon Musk has questioned the high valuation, telling the Guardian "I do believe this market cap is higher than we have any right to deserve."
Tesla has only produced 47,100 cars so far in 2017. Many investors are betting on the future of electric cars and Elon Musk's vision rather than Tesla's actual car making abilities. The mass market Model 3 is due out any day now, and will ramp up overall production with 20,000 cars per month by December. It still won't come close to touching any of the production numbers of the big 3.
Tesla isn't the one with fingers in the electric car pot either. Volvo announced on July 5 that all of its new cars would be fully electric or hybrid by 2019, and the electric mass market, electric Chevy Bolt will directly compete with the Model 3.
Statista
Get the latest Tesla stock price here.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- FSSAI in process of collecting pan-India samples of Nestle's Cerelac baby cereals: CEO
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- A surprise visit: Tesla CEO Elon Musk heads to China after deferring India visit
- Unemployment among Indian youth is high, but it is transient: RBI MPC member
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market