Tesla Continues To Execute On Plan And Impress

0
53
Photo by Kelly Lacy on Pexels.com

Following the news that Tesla is set to join the S&P 500 index in December, a development that boosted Tesla’s stock price;

David Leggett, Automotive Analyst at GlobalData, a leading data and analytics company, offers his view:

“The S&P 500 index inclusion draws attention once again on Tesla’s astonishing share price surge and market cap, potentially adding further upside as new investors who track the index buy its shares.

“The company is on a roll. In October, Tesla reported its fifth consecutive quarterly profit and said it is on track to deliver half a million vehicles this year. That’s an impressive level of volume for a company that is focused on premium electric vehicles and is a relative newcomer to the global automotive stage.

“This year, Tesla is executing on its plans with record quarterly deliveries and output and is well placed to benefit from rising demand for electric vehicles globally. As well as the recently added manufacturing plant in Shanghai that puts it in a leading position in China’s electric car segment, a new Tesla plant in Berlin is expected to start production in 2021.

“In terms of company performance and industry fundamentals, Tesla tops GlobalData’s Thematic Screen which ranks 28 vehicle manufacturers according to themes that generate a leading indicator of future performance. As well as scoring high in electrification and batteries, Tesla also scores highly in autonomous technology and having a high rate of manufacturing capacity utilization.”

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.