Tesla's market cap crosses $1 trillion; Surpasses combined value of top 5 automakers globally

Tesla Inc surpassed $1 trillion in market value, overshadowing the combined value of five of its biggest rivals, Toyota Motor Corp, Volkswagen AG, Daimler AG, Ford Motor Co and General Motors.

Tesla electric cars (Image for representation)

Tesla Inc surpassed $1 trillion in market value on Monday, overshadowing the combined value of five of its biggest rivals, Toyota Motor Corp, Volkswagen AG, Daimler AG, Ford Motor Co and General Motors. This also makes Tesla the most valuable car company globally, despite selling much lesser cars than the other rivals, a couple of them are retailing almost 10 million cars annually. Tesla, on the other hand, almost reached 500,000 car sales in 2020, which is nowhere near to the combined sales of the top 5 carmakers in volume. 

The electric vehicle maker landed its biggest-ever order from rental car company Hertz of 100,000 cars to be delivered by the end of next year. Hertz, the rental brand order is estimated at $ 4 billion and will be 20 percent of the company's total asset. Hertz has ordered all 1 lakh cars in the form of the Tesla Model 3.

Here is a list of the top 5 ICE (internal combustion engine) automakers in the world and their market cap as of the last close as compared to Tesla:

Tesla Inc - $1 trillion

Toyota Motor - $284.11 Billion

Volkswagen - $146.83 Billion

Daimler AG - $103.58 Billion

General Motor Co - $83.85 Billion

Ford Motor - $62.78 Billion

In terms of sales, Toyota Motor company leads the global sales numbers with close to 9.5 million cars sold last year, followed by Volkswagen at 9.3 million cars. Daimler, General Motor,s and Ford are at a distance behind with not much car sales but have more market cap. 

Tesla is currently retailing vehicles like Model 3, which is the entry-level EV from the carmaker, followed by Model Y which is more of crossover, Model S, and Model X. Tesla is also working to bring Cybertruck on roads soon. 

With inputs from Reuters