Tesla is now the most valuable automaker in the US

By at least one metric, Tesla is now more valuable than GM. In market capitalization — the value of a company’s shares on the open market — Tesla has just overtaken the industry stalwart even after factoring its diminutive sales volume and massive losses (when compared to GM). GM, for example, sold about 10 million cars in 2016 and earned a profit of more than $9 billion last year. In new-world math that touts Uber — a company that loses nearly a billion dollars a quarter and has yet to earn a profit — as a $70-billion company, Tesla and its 76,000…

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