Ford is once again more valuable than Tesla

Ford

• Ford has passed Tesla as the No. 2 US automaker by market capitalization.
• General Motors is the largest US automaker by market value.
• Watch Ford trade live.

It took more than two years, but Ford is once again more valuable than Tesla.

Ford shares surged more than 10% on Friday after the company posted first-quarter results that topped Wall Street estimates. The gains ran Ford's market cap to more than $41 billion, putting it ahead of Tesla's $40 billion valuation. Both automakers trail General Motors, which had a market value of $56 billion.

It's been a long road back to the No. 2 spot for Ford, which had remained the third-largest US automaker by market cap since it was surpassed by Tesla back in April 2017.

For much of the last two years Tesla and GM flip flopped between the top two spots. But in January, GM reclaimed the No. 1 spot and has not relinquished it as Tesla has struggled with demand issues and just posted a big first-quarter loss.

In terms of 2018 sales, General Motors was No. 1 (2.95 million), followed by Ford (2.5 million) and Fiat Chrysler (2.24 milion). By comparison, Tesla sold more than 200,000 vehicles in a year for the first time in 2018.

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