Tesla first became more expensive than Ford and GM combined.

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The market capitalization of electric vehicle manufacturer Tesla, as a result of trading on Wednesday January 8, grew by 5% and amounted to $ 89 billion. Thus, the company Ilona Mask for the first time became more expensive than Ford and General Motors combined, Reuters writes.

GM’s capitalization is now $ 50 billion, Ford – $ 37 billion (a total of $ 87 billion).

Tesla shares have been rising for the past three months. This was facilitated by a profitable third quarter, the start of sales of automobiles manufactured at a factory in China, and a record growth in supplies for the year.

In the third quarter, Tesla became profitable for the first time since the beginning of 2019. The company posted a profit of $ 143 million, or $ 0.8 per share, as analysts expected a loss of $ 0.46 per share.

Tesla profit data for the fourth quarter and the whole year is not yet available. However, it is already known that in just a year, the company delivered 367,500 cars – 50% more than in 2018. The result coincided with Tesla’s own forecasts. Analysts expect that in 2020 the company will bring deliveries to half a million cars a year.

In addition, 2019 was the year Tesla began to open factories outside the United States. The company launched a factory in Shanghai and plans to open a gigafactory in Germany.

Tesla is still inferior to traditional car manufacturers in terms of sales. In 2019, in the US alone, Ford and GM delivered more than 2 million cars, Reuters notes. According to analysts, Ford’s sales for the year will be $ 144 billion, GM – $ 138 billion, Tesla – $ 24 billion.