Tesla Loses Most Valuable U.S. Carmaker Spot Ahead Of Model 3 Launch

Posted: Jul 7 2017, 5:29am CDT | by , in News | Cars & Vehicles

Tesla Loses Most Valuable U.S. Carmaker Spot Ahead of Model 3 Launch

Tesla is not the Most Valuable U.S. Carmaker now as it suffers a loss amounting to $12 billion ahead of Model 3 launch

Tesla’s stocks on the market index have always been going up and down in rapid succession. The only word which suits the nature of its stocks is “mercurial”. The previous week has seen a large dip in the stock value of Tesla.

It dropped by 19%. Thus the damage in monetary terms has been more than $12 billion. Due to this, Tesla loses top spot as Most Valuable U.S. Carmaker. Now Tesla is way behind General Motors although it is still ahead of Ford Motors.

As Elon Musk announced that the shipments of the Model 3 will begin later on in July, the net loss struck the company thereby depressing many an individual worker of the firm with an otherwise optimistic streak.

The sales of cars also saw a slump. Instead of the 25,000 cars that were meant to get sold, only 22,000 cars were actually bought by consumers.

The problem lay with the battery packs in the cars. Also growth trends for the best vehicles of Tesla Motors slowed down. These were none other than the Model S and Model X vehicles.

As if all this were not enough trouble in the world, the competition surrounding Tesla is getting a bit too much as well. Volkswagen, BMW, General Motors, Nissan and Honda have jumped on the bandwagon of electric vehicles. Even Volvo is not one to be left behind in the EV game.

The entry of cheap Chinese carbon-copy batteries in the market also negates Tesla Motors’ batteries which are costlier and of a higher quality.

With the latest controversy surrounding the safety of the Model S, Musk’s hands are full. Yet he may navigate the shoals of trouble his company is facing at present and emerge at the other end.

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M. Affan covers the hottest news that captivate the web today.




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