Tesla Bests Q2 Estimates, Delivers 90K Cars

Elon Musk's Coronavirus Self Own To Go Down In The History Of Self-Owns

Elon Musk's Coronavirus Self Own To Go Down In The History Of Self-Owns

Tesla Inc on Wednesday became the highest-valued automaker as its shares surged to record highs and the electric carmaker's market capitalisation overtook that of former front runner Toyota Motors Corp.

The world's most valuable carmaker's share price rose by 9 percent to $1,219.02 in early trading on Thursday after it announced that it had delivered an impressive 90,650 vehicles over the last three months, reports CNBC.

Tesla jumped as much as 4% to a market capitalization of $206 billion, while Toyota fell as much as 1% to a market capitalization of $203 billion.

However, Toyota sold around 30 times more cars a year ago and its revenues were more than 10 times higher. The strong performance in Q2 was related to demand for Tesla's more affordable vehicles.

Jada Pinkett Smith Denies Having An Affair With August Alsina
Alsina insisted he hadn't "done anything wrong" because Pinkett Smith's husband, Will Smith , had allegedly given his "blessing". August spoke very highly of the Smith family in his interview, admitting, "I love those people literally like my family".

Tesla's Shanghai Gigfactory appears to be on track to hit 100,000 deliveries during its first year, and the company's growth story in the country is worth about $400 per share, he said, adding that a million-mile battery, which could "potentially last for decades", is getting closer.

Analysts predicted deliveries of about 74,000 vehicles, significantly less than what Tesla managed to achieve.

The Tesla takeover of the car industry highlights investors' shift to rewarding technology-focused auto manufacturers that develop electric-powered vehicles and focus on software development. Toyota, General Motors, Ford and Fiat Chrysler have all seen their sales drop by more than 30 percent because of the pandemic.

Chief Executive Elon Musk in the past said Tesla would deliver at least 500,000 vehicles in 2020, a forecast the company has not changed despite the coronavirus pandemic.

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