Tesla is now nearly twice the value of all major US carmakers and airlines combined
In early July, we wrote about Tesla after the electric car maker overtook Toyota to become the world’s most valuable automaker. Just two weeks ago, Tesla was at $271 billion in valuation. Today, it is now sitting at $355 billion making Tesla about twice the value of all major US carmakers and airlines combined.
With coronavirus pandemic, came less travel demand. The airline revenue fell 90% year over year during the second quarter of 2020 due to the pandemic. Most airline stocks also lost 50% or more of their value as the pandemic spread globally.
Tesla is now worth more than GM, Ford, Ferrari, BMW, Nissan, Mazda, Aston Martin, and Fiat Chrysler, which have combined worth of $206 billion. Tesla hit a new all-time high of $1,902, giving the electric company a valuation of roughly $355 billion.
On August 12, 2020, Tesla announced a 5-for-1 stock split, which will take effect on August 31, 2020. In 2019, Tesla delivered 367,500 cars, 50 percent more than in 2018, and more than triple the number sold in 2017. At the end of 2019, Tesla’s global sales since 2012 totaled over 891,000 units. According to Navigant Research, Tesla’s sales represented about 20% of the all-electric cars on the world’s roads as of October 2018. By November 2018, Tesla vehicles had traveled 10 billion miles, not bad for an automaker that was founded less than two decades ago.