Tesla passes GM to become most valuable U.S. vehicle company

Tesla Inc, whose market capitalization passed that of Ford Motor Co on Monday, still trailed General Motors Co as the most valuable US auto firm in mid-day trade on Tuesday.

Tesla surpassed Ford after reporting worldwide shipments of 25,000 cars and SUVs in the first quarter, exceeding analysts' estimates. At the current valuation, Tesla's market cap is approaching $53 billion, compared to GM's market cap of almost $50 billion and Ford's roughly $45 billion market cap.

The increase in market cap is despite Tesla producing far fewer cars previous year than Ford - 76,000 deliveries compared to Ford's global sales of 6.6 million.

Earnings Per Share (EPS), the portion of a company's profit distributed to each outstanding common share, is a useful indicator of a company's profitability.

Tesla Motors Inc (NASDAQ:TSLA)'s upcoming Model 3, is another key driver in Tesla's recent stock gains, and ability of its management to stick to its aggressive goals, for its upcoming Model 3 so far.

Shares climbed to another record high Tuesday of $304 a share.

In response to the news of the valuation, Musk tweeted, "Stormy weather in Shortville", a jibe at investors who had bet on Tesla's stock price falling.

What's Driving Tesla Faster than Ford?

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To Elon Musk, the Tesla Model 3 should enable the manufacturer to change dimension by becoming the bestseller future of the group. GM's market value is $50.8 billion. Equities analysts predict that Tesla will post ($1.63) EPS for the current fiscal year.

Ford reported that sales fell a worse-than-expected 7.2 percent, while Toyota sales dropped 2.1 percent, compared to the same period a year ago. Demand for the new model is strong-and with consistent reports ensuring the company's timely delivery of the product.

In other Tesla news, VP John Douglas Field sold 1,000 shares of the business's stock in a transaction dated Tuesday, January 10th.

According to a report by the Guardian, some owners have expressed their displeasure with the company when it gives out the details of their data to the public.

Currently, the electric vehicle maker might struggle to get past the psychological level of $300-mark in the stock price.

Members of the media check out a Tesla Model S 90D electric vehicle last month at the company's showroom in Hanam, South Korea. "Nobody thinks Ford or General Motors is going to do that".

We can't quite believe we're bringing you this news, but Tesla, a tech brand that currently only makes two models of auto, is now worth more than Ford.

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