19 Jun '17, 10am

Tesla overtakes BMW, fourth in market capitalisation

Tesla overtakes BMW, fourth in market capitalisation

As of early December, BMW held a US$30 billion (RM127.8 billion) margin in market capitalisation over California-based Tesla Motors. That positioning has since been reversed, following a rallying of Tesla shares, according to a Bloomberg report. The American electric vehicle manufacturer overtook General Motors in market capitalisation back in April, thus making it the highest-valued US automaker. Fourth it may be in market cap, however Tesla is a long way off from BMW in terms of sales and profits. According to the report, the German marque sold nearly 2.4 million vehicles last year and made US$7.7 billion (RM32.8 billion), while Tesla sold less than 80,000 vehicles and lost US$725 million (RM3.09 billion). “We think they are going to be burning close to US$750 million to US$1 billion (RM3.2 billion to RM4.3 billion) a quarter for the next handful of quarters. Tesla has i...

Full article: https://paultan.org/2017/06/19/tesla-overtakes-bmw-fourth...

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