American Teslasta became the world’s most valuable car manufacturer in terms of market value yesterday, reported by the BBC. The company’s share price rose to more than $ 1,100, or about 980 euros.
At the same time, Tesla’s market capitalization rose to more than $ 209 billion, or about $ 185 billion. Its market value surpassed the Japanese Toyota about $ 4 billion – despite Toyota’s revenue being about ten times that of Tesla. I got a Toyota share yesterday for 6656 yen, or about 55 euros.
Tesla’s share price has skyrocketed this year, and the share price has increased fivefold this year. The ascent momentarily came to a halt in May, when the company’s CEO Elon Musk tweeted that a Tesla share is too expensive and momentarily wiped out about $ 14 billion of the company’s market capitalization.
Tesla did not suffer from a difficult start to the global economy. In the first quarter, it increased its revenue to $ 5.99 billion from $ 4.5 billion a year ago. The company made a profit of 9 cents per share, which surprised analysts expecting a loss of 28 cents per share.
In connection with the announcement of the results, Musk announced that the company will stick to the delivery target of 500,000 cars promised earlier this year, despite the coronavirus pandemic.