Tesla soars on the stock market and is close to 1,000 billion dollars in market capitalization

A new stock market rally? The Tesla title has picked up in recent weeks after a gloomy start to the year. After surprising the markets with the very good performance of sales in the context of the semiconductor crisis, the title of the manufacturer of 100% electric cars is sinking new records. Up nearly 7% on Monday, it caresses the threshold of 1,000 dollars, bringing the capitalization to more than 960 billion dollars (826 billion euros). By way of comparison, the capitalization of Volkswagen is ten times lower (83 billion euros).

After the plunge, a new stock market record

For Tesla, it is the end of a low that had succeeded the euphoria of the year 2020. After surfing on the dynamics of sales of electric cars and seeing its stock rise to 900 dollars in January, the stock has had to suffer major corrections plunging to $570 in May...

This trend thus confirms the increase in appreciation published on Friday by the Standard & Poors agency. The powerful rating agency had moved to BB+ on the title, with a positive outlook. "Tesla's reported earnings and cash flow in recent quarters have exceeded our expectations," she wrote in her note. In addition, "the outlook for demand appears robust worldwide, especially taking into account the current expansion of the group's production in China, Germany and the United States", adds S&P.

Demonstration of such prospects on Monday, with the announcement of a mega-order by the car rental company Hertz. The American has ordered 100,000 Model 3s from the firm founded by Elon Musk. This order was estimated at nearly 4.2 billion dollars by Dan Ives, the analyst in charge of technology stocks at Wedbush, whose note was taken up by the agency Cercle Finance. This order corresponds to almost a fifth of sales in 2020. Elon Musk estimates that Tesla will sell 750,000 cars in 2021.

The Model 3, number one in Europe

Tesla is taking advantage of other very favorable news such as the publication, again this Monday, by the Jato Dynamics Institute of the figures for the month of September in Europe which saw this same Model 3 climb to the first place of the podium. first time that an electric car has supplanted all other engines in the race for sales volumes. The Model 3 (24,600 sales) thus passes the Renault Clio (18,300 sales) and the Dacia Sandero.

Read also How Tesla thwarts the shortage of semiconductors and posts delivery records

While it is too early to speak of a fundamental trend, it is eminently a victory for the Californian firm, which is thus establishing itself in an extremely competitive market. This also reflects the very strong appetite of the European market for electric cars. But this victory can also be explained by the weakness of thermal sales, largely impacted by the semiconductor crisis. Tesla has demonstrated that it has found a way out of this crisis by diversifying its supplies and reprogramming its software to accommodate new chips.

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