Tesla officially becomes America’s most valuable car company

Tesla officially became the most valuable auto company in the US.

It’s important to note that, despite the high stock prices, Tesla is still a much small company than either Ford or GM. While GM sold 10 million vehicles last year, Tesla only managed 76,230. Tesla’s also historically been unprofitable due to a combination of massive investments and fairly small sales numbers, whereas GM posted a $9.4 billion profit in 2016.

A mere week after Tesla overtook Ford as the second-most valuable auto manufacturer in the US, the company’s stock has surged past the nation’s top car maker. On Monday, Tesla officially closed out the day at $1.7 billion dollars more than General Motors, with a value of $51 billion total. Not a small feat considering that GM is an established company with a 109 year history, while Tesla has only existed since 2003.

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