AutoBeta(AutoBeta.net)06/11 Report--

Tesla's share price hit an all-time high on June 10th, rising 6.98%, with a current market capitalization of $190.122 billion. According to Tesla's current market capitalization, it is equivalent to nearly six Ford cars ($28.074 billion) and four General Motors ($41.143 billion), surpassing Toyota ($180.782 billion) to become the world's largest car company by market capitalization.

According to the newly released ranking of the market capitalization of car companies, Tesla surpassed Toyota to become the world's largest car company by market capitalization. Toyota and Volkswagen ranked second and third respectively, while two American automakers, General Motors and Ford, ranked eighth and 10th respectively. It is worth mentioning that SAIC is the only Chinese car company on the list, with a current market capitalization of 213.106 billion yuan ($30.2 billion).

In fact, it is not surprising that Tesla's market capitalization exceeds that of Toyota. As early as January this year, Tesla's market capitalization has exceeded 100 billion US dollars, ranking second in the world after Toyota. Tesla's share price fell sharply due to the epidemic, but Tesla's share price rebounded again at the end of May, pressing Toyota step by step, eventually surpassing Toyota to become the most valuable car company on June 10.

Tesla's stock price has made history, reflecting market expectations and expectations and confidence in the future of electric vehicles. In the first quarter of 2020, Tesla's financial report data as a whole exceeded market expectations. Tesla's total revenue in the first quarter was $5.99 billion, down 19% from the fourth quarter of 2019 and up 32% from the same period in 2019. Tesla's net profit was $16 million, the third consecutive quarter of profit.

Tesla's soaring share price is due to its recent outstanding performance in the Chinese market. Tesla built the Shanghai super factory in only one year. Although production was stopped for a short time due to the epidemic, he accelerated the resumption of work to recover production capacity after the epidemic and quickly returned to the pre-epidemic level.

Sales of new energy passenger vehicles fell 25.8 per cent year-on-year to 70200, according to sales figures released by the Federation of passengers. Among them, Tesla sold 11095 domestic Model 3 vehicles, ranking first in new energy vehicle sales. Tesla sold a total of 34435 domestic Model 3 vehicles in China from January to May.

In addition to selling more than 10,000 vehicles in May, Tesla sold 10160 Model 3 vehicles after the Shanghai super factory resumed work, mainly due to a backlog of orders during the epidemic. As those orders were digested, Tesla's Model 3 sales fell to 3635 in April.

In April, new energy vehicles set a subsidy threshold of "less than 300000 yuan". In order to adapt to the subsidy policy, Tesla reduced the price of the domestic standard battery life version of Model 3 to less than 300000 yuan on May 1, and the subsidised price was 271550 yuan, and sales rebounded rapidly in May.

According to Tesla's goal, the Shanghai Super Factory will reach its production target of 4000 Model 3s per week by the end of June. At the same time, the second phase of the Shanghai Super Factory has also entered the capping stage, which is mainly used to produce Model Y and is expected to start production in the first quarter of next year.

Model Y is a compact SUV based on Model 3. Tesla's official website shows that there are three versions of Model Y. the long-lasting afterdrive costs 444000 yuan, has a range of 540km and can accelerate up to 5.8seconds at 100km. Then there are the long-lasting version of dual-motor all-wheel drive and the high-performance version of Performance, which are priced at 488000 yuan and 535000 yuan respectively.

According to the industry analysis report, with the gradual localization of Tesla's supply chain, the price of domestic Model 3 still has room to decline. It can be said that Tesla does have certain advantages in the field of electric vehicles, with the further development of domestic models, domestic car companies will face greater competitive pressure.

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