Tesla reported a 5% increase in their valuation this Wednesday, bringing them to a total valuation of $89 billion. Not only is this an impressive increase in value on its own, but it has also solidified the title of the highest-ever valued automaker.
The previous holder of this title was Ford; they met this achievement in 1999 when they hit an $80.8 billion valuation.
Tesla’s current value of $89 billion is larger than the amount that Ford and GM reported Wednesday combined, $37 billion and $50 billion, respectively.
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Hannah Michelle Lambert is the Social Media + Events Coordinator at Worthix, as well as the host of the monthly CX News Recap segment. She is a graduate of the University of Michigan.