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GM remains most valuable U.S. car company, Tesla is No. 2

Posted by: Admin | Posted on: April 4th, 2017 | 0 Comments


Tesla Inc (TSLA.O), whose market capitalization passed that of Ford Motor Co (F.N) on Monday, still trailed General Motors Co (GM.N) as the most valuable U.S. auto firm in mid-day trade on Tuesday.

Tesla traded at $301.74 at mid-day and had a market capitalization of $49.1 billion, according to Thomson Reuters data, compared with $51.1 billion for GM.

Tesla on Monday said it delivered a record 25,000 electric vehicles in the first quarter. It plans to begin production this summer of the mass-market Model 3 sedan.

(This story corrects first two paragraphs and headline to show Tesla did not surpass GM as most valuable company, but still trails)

(Reporting by Paul Lienert in Detroit; Editing by Chizu Nomiyama)

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/gu8TjuS7gWA/us-autos-tesla-idUSKBN1761XQ

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