Jim Holder
Positive reaction to the Model Y highlights Tesla’s sales potential
TESLA IS NOW firmly established as the world’s most valuable car maker, hovering, just after its record third-quarter profit announcement, at around $1 trillion (£725bn), which is hundreds of billions more than Toyota or Volkswagen.
Its results – 241,300 cars delivered (up 72% on last year), $1.6bn net profit (389% up year on year) – did little for its share price, but, notably, it barely moved; investors seem satisfied that the growth path justifies the valuation, which has grown more than 18% over this most difficult of years.