Dec 5, 2018

After BMW, Tesla overtakes Daimler on stock exchange

tesla-model-3-04

Tesla is climbing ever higher and has now not only overtaken BMW but has also surpassed Daimler in stock market value since shares of the Germans fell. At the moment the Californians rank third among all car manufacturers with only large volume manufacturers Toyota and Volkswagen being ahead.

Of course there is no doubt that Daimler delivers significantly more vehicles than Tesla does, and Daimler has been profitable for a very long time in comparison. But market capitalisation is not always based on objective standards. The truth of the matter is also that Daimler’s profits have recently fallen and investors have become cautious against the backdrop of a weakening diesel business.

These are the concrete figures: In terms of market capitalisation, Tesla stood at 63.18 billion dollars yesterday and Daimler at 62.89 billion dollars. This was, of course, only a momentary snapshot, however significant it may be.

Tesla already outperformed Ford and General Motors in market value last year and has thus risen to become the most valuable US carmaker. Last month the Californians also overtook BMW. Daimler’s profit announcement from the third quarter most likely played a decisive role.

Meanwhile, Tesla has engaged Bert Bruggeman as Vice-President of Production at the Fremont plant. Bruggeman comes from the semiconductor industry. For the last decade, he has been working for the Cypress Semiconductor Group.

cleantechnica.com, electrek.co (both market value), electrek.co (Bruggeman)

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Found on electrive.com
https://www.electrive.com/2018/12/05/after-passing-bmw-tesla-overtakes-daimler-on-stock-exchange/
05.12.2018 23:01