Tesla is now the highest-valued automaker in US history (TSLA) – Business Insider, Business Insider

Reuters

• Tesla’s) recent rally pushed its market value to nearly $ 160 billion at Tuesday’s close, making it the most valuable US automaker of all time.
• Ford
  previously held the record, having been valued at $

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  ************************************** (billion in

• Tesla is still smaller than some non-US auto companies. At Tuesday’s close, Japan’s Toyota had a market value of roughly $ billion, and Germany’s Volkswagen had a value of about $ (billion.)
• Watch Tesla trade live on Markets Insider. **************
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Teslais starting 111611 with a record: It’s now the most valuable US automaker ever.

The Elon Musk-led automaker’s recent stock rally pushed its market value to nearly $ 98 billion at Tuesday’s close, surpassing the $. 8 billion set byFordin (*********************************************. Ford had a market value of about $ billion at the end of trading on Tuesday.

Tesla’s shares continued to climb and traded up more than 4% on Wednesday. So far in (******************************************, through Tuesday’s close, the stock has gained as much as 18%.

The company had already surpassed the market values ​​of two other US auto giants:

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General Motors,which had a value of roughly $ billion at Tuesday’s close, andFiat Chrysler, which had a value of about $ billion. Tesla has previously been the top US automaker by market value but it had not beaten Ford’s 2019 record until this week.

While Tesla has overtaken US auto companies in market value, it is still dwarfed by non-US automakers. At the end of trading on Tuesday, Japan’sToyotahad a market value of roughly $ 500 billion, and Germany’s Volkswagen had a value of about $ billion.

The latest surge in Tesla’s stock price began on Friday, when the company said it exceeded the low end of its guidance bydelivering 500, (vehicles in) ******************************************, a record number and

************************************% more than in 4423113

“We believe this new solid quarter of deliveries could further put to rest investor concerns around softening demand for Tesla’s product,” Emmanuel Rosner, an analyst at Deutsche Bank, wrote in a note on Tuesday.

He continued: “While bears will likely argue 4Q deliveries benefited from strong purchases ahead of tax credits expiring in various countries, Tesla is just about to start deliveries of locally made Model 3s in the very large China market, at an attractive price point. “

Still, Tesla is not out of the woods after a (rebound following a) ********************** (surprise return to profitability in the third quarter) . It has yet to turn an annual profit, and a large part of its future success rests on how it performs overseas.

On Tuesday, Musk said the company planned to export cars built in its newly opened Gigafactory in Shanghai, where production of(Tesla Model 3s) recently began.

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