Tesla recently embarrassed itself in a vehicle quality ranking. The shareholders apparently don’t care, they are now making the car manufacturer soar.
Tesla overtakes Toyota as the most valuable automaker
In January Tesla overtook the largest German car manufacturer Volkswagen on the stock exchange, and the California car maker has now achieved its next big success: According to Bloomberg calculations, Tesla is now also more valuable than Toyota and thus the most valuable car manufacturer in the world.
Tesla’s stock hit its all-time high of $ 1,130 on Wednesday. The manufacturer was worth a total of around $ 207.2 billion. Toyota’s market cap – the combined value of all shares – was $ 201.9 billion.
Elon Musk and his company have been flying high on the stock exchange for some time, but Tesla is not on the road to success in all areas.
The cheapest entry into the Tesla family is the Model 3 – see here in the video:
Tesla: Few vehicles, many defects
In a large-scale quality study, Tesla recently came in last. Less for electronics and software than for the processing of vehicles, Tesla received criticism from new car owners. And this despite the fact that the young car manufacturer produces significantly fewer vehicles than the competition: Tesla built 103,000 cars in the first quarter of 2020 – that’s just 4 percent of Toyota’s production. The Japanese manufacturer rolled almost 2.4 million vehicles off the assembly line in the same period, writes Bloomberg.
Shareholders are not worried about this, and have been for a long time: The price of the Tesla share had already doubled in the last quarter of 2019 and was just under $ 550 at the end of January. It has doubled again in the past five months.