Tesla became the most valuable automotive company in the US three months ago, but this dream has not lasted long and Tesla dropped to the second place after three months.
California-based electric car maker and energy storage company Tesla lost its leadership of being the highest automotive company in the market in the US. Tesla’s market value fell to $ 47.17 billion, down from $ 309.61 per share in the New York Stock Exchange on 7th July.
With this result, Tesla lost the title of being the largest automotive company in the US market, which was acquired by General Motors on April 10th.
General Motors’ share price was the highest in the New York Stock Exchange today at $ 35.16, while the market value of the company rose to $ 52.22 billion. Namely, General Motors became America’s market-leading automotive company today.
In addition, the sharp decline in Tesla’s shares caused the company to lose its title as the world’s fourth most valuable automotive company. Tesla, behind German automotive giant BMW on June 9, fell in the sixth place among the world’s most valuable automotive companies after falling in its current share.
The market value of BMW is about 53 billion dollars; the company has risen to 4th place in this field. General Motors ranked fifth.
Among Toyota’s top automotive companies in the world, Volkswagen ranks second, while Daimler AG ranks third.
While Tesla claims to be the safest vehicle in the world, experts point out that the company has not yet won any “safe vehicle reward”, and stresses that the company’s feelings have recently fallen sharply.
Tesla’s share price has now declined 19.2 percent since June 23, reaching the all-time high of $ 383.45. It is expected with the excitement that how Elon Musk will react to this fall.