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Tesla briefly became America’s most valuable car company today

But it can’t touch GM or Ford when it comes to sales.

Tesla Debuts Its New Crossover SUV Model, Tesla X Justin Sullivan / Getty
Rani Molla is a senior correspondent at Vox and has been focusing her reporting on the future of work. She has covered business and technology for more than a decade — often in charts — including at Bloomberg and the Wall Street Journal.

Tesla briefly became America’s most valuable car company this morning, reaching a $51.17 billion market capitalization. As of 1:30 pm ET, it has dropped back below GM to $50.8 billion, according to data from FactSet.

This feat comes a week after Tesla’s record number of vehicle deliveries helped make the electric car company more valuable than Ford.

Remember, huge valuation aside, Tesla is a way smaller company in terms of market share. While GM’s and Ford’s sales were in the millions in 2016, Tesla’s only reached about 76,000.


This article originally appeared on Recode.net.

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