Tesla value hit $20 billion on August 26, for a while…

Article by Anita Panait, on August 27, 2013

Tesla Motors Inc.'s market value exceeded $20 billion for a while on Monday, August 26, 2013, as its shares surged to a record $173 before closing at $164.23 in afternoon trading. Tesla, which shares have soared around fivefold this year, carmaker is targeting to deliver 21,000 Model S electric sedans in 2013 and double that in 2014.

According to chief executive Elon Musk, the demand for the Model S is more than what they could supply.

Alan Baum, an independent auto analyst at Baum & Associates, called Tesla as the “Apple of automotive,” after it managed to “cross the automotive and technology fields to become this hot commodity." He added that whether justified or not, expectations for Tesla are “now very high."

In terms of production volume and sales, Tesla is among the smallest of international carmakers. But its market value is not something that other large carmakers have to joke about. For instance, General Motors Co. has a $49 billion market capitalization while Ford has a market value of $65 billion.

Motor Trend magazine named the Model S as 2013 Car of the Year while Consumer Reports rated the EV as among the best it's ever tested. Tesla disclosed this month that the model got top crash and safety ratings in tests by the US National Highway Traffic Safety Administration. [source: WSJ]

Topics: tesla

If you liked the article, share on:

Comments

Recommended

A few months ago, Mercedes-Benz promised that they will be treating everyone to a “big surprise” during the Monterey Car Week. And true enough, many of us were stunned as...
by - August 19, 2017
McLaren has already shown some interest in electrifying their models. And initially, we thought that they will just use hybrid systems to use across their current lineup. Nevertheless, we have...
by - August 19, 2017
Fifty years after its glorious victory at the 24 Hours of Le Mans, Ford launches the 2018 Ford GT ’67 Heritage Edition at the 2017 Monterey Car Week. The red...
by - August 18, 2017
Hyundai has recently unveiled an unnamed pre-production model of its new fuel cell SUV. We don’t know what to call this model just yet, but sources say that this model...
by - August 18, 2017
This weekend at the 2017 Pebble Beach Concours d’Elegance, the BMW Z4 Concept will make its first public appearance. The good news is that we will finally have a real...
by - August 18, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries