5 Things That Helped Make Tesla More Valuable Than Ford & Honda
Tesla briefly surpassed GM & Daimler (Mercedes) in December 2018 to become the third most valuable auto manufacturer in the world. Now the market has shifted slightly to put Tesla in the number 5 spot. Not bad for a company started just 16 years ago in 2003. Tesla valued at $51 Billion as of Feb 2019 is still more valuable than Honda, BMW, Ford, Audi, & Nissan, the other 5 car companies in the top 10. This is an impressive feat for such a new company, but what got Telsa where it is today?
There are 5 core reasons Tesla has done so well, continue reading on the next pages to find out how they did it.
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First and foremost is Tesla’s technology. The auto manufacturer is miles ahead of the competition in terms of its nationwide super charging grid and the myriad of advanced features included with every Tesla vehicle. Tesla is already shipping vehicles with the ability to summon your Tesla from the parking lot via your smartphone and have it pick you up at the front of the movie theater (or wherever you are) with its remote valet feature. Government regulatory approval to actually activate this feature now shipping with Tesla cars is not yet granted, so the feature is disabled for now. Elon Musk plans for you to be able to summon your car from across the country soon.
For now, Teslas come with Enhanced Autopilot enabling the car to match speed based on traffic conditions, keep within a lane, automatically change lanes without driver input, transition from one freeway to another, exit the freeway when your destination is near, self-park when near a parking spot, and be summoned to and from your garage. Just push a button on your phone and your Tesla will pick you up in the driveway – pretty cool.
The best is yet to come with tons of advanced new future facing technologies on the way for Tesla owners. The awesome thing is that most existing customers will receive these updates as they come out, since they are automatically downloaded to the cars computer system over wifi. The whole point of owning a Tesla is to take advantage of the latest and greatest technology, so it naturally made sense that the company built upgradability into its roadmap.
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With Elon Musk at the helm of the company, Tesla is in good hands. Musk was a co-founder of PayPal and hit it big when the company sold to eBay for $1.5 billion. Musk has now proven he can successfully run a profitable auto company and a profitable space company, Space X. Musk got his first big break in business when he sold his first company Zip2 to Compaq for $307 million, clearing him a cool $22 million which he used to help start x.com. X.com would eventually merge with Confinity to create PayPal. When PayPal was sold to eBay, Musk cleared $165 million. Elon holds in the range of 20-30% of Solar City, SpaceX, and Tesla giving him a Net worth of about $22 billion as of 2019. If Elon Musk has proven anything, it is that he has what it takes to run a successful business. We thing Tesla has a bright future with Musk as captain.
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Elon Musk has set out on a quest to bring the future into existence a little bit sooner. He sees potential where others might shy away or play it safe. Musk has set a standard of continually pushing vision forward and meeting that vision with achievable steps of action.
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Musk has built one thing into his 3 companies’ DNA – persistence. No one took him seriously at first, and he has had his fair share of difficult circumstances in business where most might just throw in the towel, but Musk has persisted. He has a sheer determination to succeed and make his goals happen.
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#5 Head Start On The Competition
Tesla has proven that it can produce electric vehicles at scale and turn a profit. None of the other auto manufacturers are even close in terms of rolling out EVs at the level Tesla has. On top of that, Tesla has invested heavily into it’s nationwide supercharging grid, giving it a substantial edge over the competition and allowing for cross country road trips in that beautiful new vehicle for free or next to nothing. EVs are the future, and Musk caught onto this before most. Most importantly, he went full speed ahead when other car companies were trying to play it safe and test the waters. That fortitude has paved the way to give Telsa a big head start on the EV market. We predict Tesla will continue to dominate, at least until the Apple iCar us officially unveiled.