Tesla is now worth more than Ford ever was
Bye bye Detroit
There are few names that are more established in the automotive landscape than Ford, for over 100 years the Detroit-based automaker has been churning out affordable transportation for the masses in the millions. Best known for revolutionizing the way we think about car production, Ford was the first company to introduce a vehicle assembly line, something which enabled them to become on of the world's largest car manufacturers.
However, Ford isn't alone anymore, for the past 10 years Tesla has been chomping at their feet, showing the world that the industry's lack of innovation was over.
Throughout the past few year many automakers have been loosing they innovative edge, with former BMW CEO even admitting that when compared to Tesla's Model 3, BMW's competing 3 series sedan looked like a dreary joke.
And it looks as though the market seems to agree, because for the past three years or so Tesla has had a stock market valuation greater than that of Ford. However, many analysts and skeptics have previously said that this was not sustainable, and that Ford's recent slump was not indicative of their future.
Well it turns out they were wrong. Back in 1999 Ford experienced their best year in history, reaching an overall Market Capitalization of just over $80 billion. However, earlier today Tesla tore a hole through that record, becoming the most valuable U.S. automaker of all time.
This just goes to show that even an automaker like Ford can be toppled by Tesla, and it's time for us all to accept Tesla as a major automaker; one with real cars, real profits, and real customers.