Saturday, April 2, 2011

Tesla Motors Stock Expected To Skyrocket | Auto-Moto

The world of automotive finance is all a twitter, because Stanley Morgan said Tesla was soon to be America's fourth automaker. It's kind of amazing claim given, because if you don't make cars in Michigan we're not sure you can be called an American automaker, right?

The bottom line is this. How long before they're the biggest automaker?

Tesla's overall share price hit $28.51, which is about 20 percent over where it was before, but not to the $70 mark where they hope to be by the end of the year. That's almost twice the price it is now. In some ways it makes a lot of sense, because they've sold 1,500 at the cost of about $109,000 for a profit of $169,000,000.

With total sales of 1,500 cars over the last few years they only have to sell a few more to catch up to Chrysler, who sold at least three times as many cars as that last year. The introduction of the Model S will almost certainly help them push past America's #3 automaker.

Source: Jalopnik, HuffingtonPost

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