{"id":8993,"date":"2021-10-26T06:03:27","date_gmt":"2021-10-26T10:03:27","guid":{"rendered":"https:\/\/autosector.com\/auto\/?p=8993"},"modified":"2021-10-26T06:03:27","modified_gmt":"2021-10-26T10:03:27","slug":"tesla-market-cap-1trillion-dollars","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=8993","title":{"rendered":"Tesla Market Cap Tops $1 Trillion After Hertz Model 3 Order"},"content":{"rendered":"

Yesterday\u2019s announcement that Hertz ordered 100,000 Tesla Model 3<\/a> electric sedans has sent the automaker\u2019s stock through the roof, with gains of 12.66 percent at the end of the trading day on October 25.<\/p>\n

Since the stock price passed $1,000 per share ($1,024.86), Tesla has officially exceeded a $1 trillion valuation ($1.027 trillion or $1,027 billion), the highest of any automaker. Actually, there are only six companies worldwide that are worth $1 trillion or more: Saudi Aramco, Apple, Microsoft, Alphabet (Google\u2019s parent company), Amazon, and Tesla.<\/p>\n

The deal with Hertz is seen by analysts as an indication that more rental agencies will eventually switch to electric cars as part of an ongoing transition to electrification, putting Tesla<\/a> in a favorable position for the future.<\/p>\n

The car rental agency agreed to purchase 100,000 Tesla Model 3 EVs for its fleet of rental cars in a deal worth $4.3 billion\u2014the biggest-ever rental car order for electric vehicles. The company said it will make Model 3 vehicles available to customers as soon as November.<\/p>\n

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\n \n \"Tesla <\/source><\/source><\/picture>\n <\/a><\/p>\n

5<\/span> Photos<\/span><\/p>\n<\/p><\/div>\n<\/div>\n

Interestingly, Tesla CEO took to Twitter to express his surprise that the Hertz announcement led to such a strong rise in the carmaker\u2019s share price.<\/p>\n

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\u201cStrange that moved valuation, as Tesla is very much a production ramp problem, not a demand problem.\u201d<\/p>\n<\/blockquote>\n

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Given how Tesla sales have exploded worldwide recently\u2014the Model 3 was Europe\u2019s best-selling car overall<\/a> in September\u2014the executive does have a point. However, with the Giga Berlin and Giga Texas plants nearing the start of production, Tesla will massively expand its production capacity.<\/p>\n

What\u2019s even interesting and quite unexpected about the Hertz deal is that the car rental agency paid full price on each Model 3<\/a> it ordered, Elon Musk confirmed in another tweet.\u00a0<\/p>\n

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\u201cTo be clear, cars sold to Hertz have no discount. Same price as to consumers.\u201d<\/p>\n<\/blockquote>\n

The moral of the story? If ordering 100,000 cars won\u2019t land you a discount, nothing will\u2014at least not if you want those vehicles to be Teslas. These are wild times, indeed.<\/p>\n

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Yesterday\u2019s announcement that Hertz ordered 100,000 Tesla Model 3 electric sedans has sent the automaker\u2019s stock through the roof, with gains of 12.66 percent at the end of the trading day on October 25. Since the stock price passed $1,000 per share ($1,024.86), Tesla has officially exceeded a $1 trillion valuation ($1.027 trillion or $1,027 […]<\/p>\n","protected":false},"author":1,"featured_media":8313,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-cars"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/8993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8993"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/8993\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/8313"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8993"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}