BBC says Tesla’s market value is now greater than Ford’s.
At the close of trading Tesla had a market value of $49bn (£38bn), compared with Ford’s value of $46bn…
The firm delivered more than 25,000 cars in the first quarter, up 70% on the same quarter last year.
While Tesla’s sales are growing fast they are still a fraction of Ford’s, which sold almost 6.7 million vehicles in 2016.
Tesla delivered 76,000 electric cars last year.
The legacy Detroit car companies could be embracing the new technologies, but instead they are allowing themselves to be creatively destroyed. Their business model, I believe, is to keep cramming pickup trucks into developing countries until they burst at the seams. Meanwhile, Tesla and Google and Uber will pass them by and become the new face of the U.S. auto industry. Then next time Ford, GM, and Chrysler tell us they need a taxpayer bailout or the U.S. auto industry will disappear, we may not have to listen.