GM remains most valuable U.S. car company, Tesla is No. 2

(Reuters) - Tesla Inc (NASDAQ: TSLA), whose market capitalization passed that of Ford Motor Co (NYSE: F) on Monday, still trailed General Motors Co (NYSE: GM) as the most valuable U.S. auto firm in mid-day trade on Tuesday.

Tesla traded at $301.74 at mid-day and had a market capitalization of $49.1 billion, according to Thomson Reuters data, compared with $51.1 billion for GM.

Tesla on Monday said it delivered a record 25,000 electric vehicles in the first quarter. It plans to begin production this summer of the mass-market Model 3 sedan.

(This story corrects first two paragraphs and headline to show Tesla did not surpass GM as most valuable company, but still trails)

(Reporting by Paul Lienert in Detroit; Editing by Chizu Nomiyama)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla (TSLA) Reiterated at Buy by StoneX Ahead of Q3 Deliveries Data Next Week
• Japan's corporate services inflation hits 2-year high
• Stocks cautious in Asia as oil gains, yields rise