Elon Musk

Tesla Became New Iconic Symbol Of US Auto Industry Representing 65%+ of US Automakers’ Market Cap

Tesla Became New Iconic Symbol Of US Auto Industry Representing 65%+ of US Automakers’ Market Cap

As of April 2019, Tesla's market share was 26%, making it second after GM (33%). Tesla Daily conducted an analysis and shared it on his YouTube channel.

Over the past year, Tesla has taken the dominant market share among US automakers. Thanks to strong fundamentals, stocks are in high demand. At the same time, Ford, GM, and Fiat Chrysler are experiencing a downturn in investor interest.

At a trading session on April 17, Tesla shares (NASDAQ: TSLA) closed at $753.89 per share, which brought the automaker a market capitalization of $139 billion.

Source: Tesla Daily Podcast/YouTube

If you look a few months before C-19 hit the US markets, we can already see a significant difference. At the end of January, Tesla's share in the US automobile market was already 52%. In just 9 months, Elon Musk's company doubled its share, while GM lost 12%, F and FSAU at 7% each.

Source: Tesla Daily Podcast/YouTube

By the end of February, Tesla already owned 58% of the US automobile market, GM, F, and FSAU lost 2%, 3%, and 1% respectively. These indicators were just before the outbreak of the coronavirus began to actively influence the US economy.

Source: Tesla Daily Podcast/YouTube

For a month and a half, Tesla showed an excellent increase and by April 17, 2020 its share in the US car market was an impressive 67%.

Source: Tesla Daily Podcast/YouTube

In fact, over the past month (from March 18 to April 17), Tesla with a market capitalization of $66.6 billion grew to $139 billion, the difference was $72.4 billion. Ford, GM, and Fiat Chrysler currently have a total market capitalization of only $68.7 billion.

Source: Top 25 Automakers by Market Cap

Tesla is qualitatively different from other automakers. Having created a fashion for electric cars and producing them, they secured their success. By many criteria, Tesla's electric cars are the most desirable among all. March sales reports show strong consumer interest despite the pandemic.

China is the largest car market in the world and it shows a strong interest in Tesla vehicles. The state encourages citizens to buy electric cars, but among all those on the country's market, only Tesla is the undisputed leader.

Cars are not the only company revenue. Those areas in which Tesla works are developing right now, and in the near future they will bring more and more income, and the company's value will grow even more intensively.


Featured image: Tesla Daily Podcast/YouTube

About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

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