Tesla reaches Ford as second car in US stock marketAutomotive News
The shares of the firm soar 30% in the first quarter of the year.
Full on its stock market spring. The markets, captivated by a liquid-thirsty Elon Musk for its next release (Model S), are betting on the automobile, which has revalued around 30% so far this year. The biggest increase in a sector, in full renovation, which is listed at low hours and leaves 3.45% since January.
The last to succumb to the charms of Musk has been China’s Tencent, which on Monday announced an injection of 1.7 billion in exchange for 5% of the shares. A final blow to Tesla’s shares, which hit $ 280, a share unknown since July 2015. All of this was sponsored by an operation led by Musk himself to sell shares and convertible debt worth $ 1.1 billion.
This last chapter of the affair between the great investors with Tesla has consolidated it in the olimpo of the sector, at least as far as Stock Exchange is concerned. The Musk-led firm has outperformed historic Ford in market capitalization to $ 45.47 billion, up from Ford’s $ 45.3 billion. At the close of the markets, Ford recovered the position and mitigated the 3.7% that it loses in the year. It adds 46,580 million euros for the 45,240 from Tesla. Above them, only General Motors stands, which registers 54,310 million and an annual revaluation of 1.7%.
Tesla’s results do not seem to discourage its investors. Although the company has accumulated losses of more than 2,608 million euros since 2008 and its latest accounts do not diminish this hole (last year they lost 628 million euros, 24% less than the 827 million recorded last year) , Tesla seduces the markets. The company failed to meet its target of delivering 80,000 vehicles. It remained at 76,230 units although it produced 83,922 in 2016, 64% more than in 2015 due to “production problems” arising from the installation of the new Autopilot autonomous driving hardware. In the fourth quarter of 2016 Tesla produced 24,882 vehicles, of which it delivered to its customers about 22,200 (12,700 Model S and 9,500 Model X).
“In the end we were able to recover and achieve our goals but the delay in production impacted on quarterly deliveries,” especially in Europe and Asia, Tesla said in a statement on 9 January. For that reason, about 2,750 vehicles were not delivered on time to their owners and will be counted in the next quarter, they said.
Tesla plans to deliver between 47,000 and 50,000 units of Model S and Model X in the first half of this year, 61% to 71% more than in 2015 respectively. In addition, it expects to manufacture 5,000 units a week of the future Model 3 , Of which already accumulates almost 400,000 requests. The problem for investors is that, for the moment, the company has difficulty meeting its forecasts.
Tesla’s stock data is far from the big Asian flags. The crown in the stock market is for Toyota, which accumulates a value of 167,004 million. Behind, Honda reaches 51.5 billion and Nissan is one step below, with 38,433 million. The behavior of these securities on the Stock Exchange throughout the year has been uneven and the three companies are trading in red. Since January Toyota leaves 11.15%; Nissan, 7.48%, and Honda, 0.58%.
Near Toyota, the markets also support German industry. Daimler, parent of Mercedes, accumulates a value of 77.222 million. And the silver medal is for the house that, however, is leader in production: Volkswagen. The German company has a stock market value of 53.5 billion and an increase in the value of its shares of 3.47% in the year. The 2017 has not been so positive in the Stock market, however, for a BMW that registers the worse behavior in Stock market of a European automobile: falls a 4.81%. It has a capitalization of 49,550 million.
On the opposite side is Peugeot, which has obtained the approval of the market to its merger with Opel and rises 21.84%. With $ 16.6 billion in stock market value it is still below its main competitor in France. Renault resists its fall in the last three months of 3.23% with a capitalization of 26,273 million.
Noemi Navas / Álvaro Bayón – Madrid – CINCO DIAS (Translation Soft)