Tesla is ringing all the right bells for the past couple of months as far as their automotive business is concerned. The all-electric car manufacturer, not too long ago, launched the affordable Model 3 sedan that received an unprecedented amount of booking. But then, the production delays resulted in a lot of backlash. However, for the past couple of months, Tesla is rolling out more Models 3s then they ever did in the past.
Also, a latest report indicates that Tesla has piped BMW to become the 4th most valuable car brand in the world, in terms of the market capitalization. In a picture shared on Twitter, Tesla outranked the German luxury car manufacturer to come behind another German luxury car brand – Daimler AG, the parent company of Mercedes-Benz.
Meanwhile $TSLA crosses BMW in market Capitalization.Now the 4th most valuable Automaker in the world !! pic.twitter.com/LgM2jQj6WV— FutureIsTesla (@ATeslaFanatic) November 7, 2018
The top two companies in the list are Toyota Motors and Volkswagen Group respectively. The point to note here is that these are just the market cap numbers and not the sales figure. When we compare sales figure, Toyota and VW are still the top 2 manufacturers, with General Motors listed at the 3rd spot and Nissan-Renault at the 4th place.
Tesla is nowhere to be seen on the sales chart as the car sales is limited to only a few markets in the world. But then again, the market cap is a result of the success of a brand and its performance. Tesla recently announced Robyn Denholm as the chairman to replace Elon Musk, who had to step down after his tweet on making Tesla private.