An auto industry legend questioned Tesla's eye watering stock rally, and said it has 'nothing to do with reality' | Markets Insider

stock has exploded more than 250% since the start of 2020 alone, but an automotive legend who has frequently questioned the electric car maker once again slammed the firm's breathless rally, which has made it the most valuable auto company in the world.Tuesday:"Tesla is not a very profitable company that creates a decent return for shareholders. It is always struggling for profitability, yet it has a huge market cap.

Lutz, who served as executive vice president at Ford, vice chairman at Chrysler Corporation and vice chairman of General Motors, added:"The rise in stock price and the fact that Tesla is worth more than Fiat Chrysler, General Motors and Ford combined is worth more than Volkswagen and Toyota has nothing to do with reality.

He pointed out while Tesla has"very good technology" other automotive giants such as GM, Ford, Toyota, Volkswagen, Porsche also have comparable technology. Lutz added:"Tesla may be giants in the electric car business but annually they [make] 300,000 cars compared to 10 million a year for Toyota, about 8 million a year for GM. Fiat Chrysler, Ford and GM combined [make] about 20 million a year, so Tesla is not very big," Lutz said.

The soaring stock price has also pushed the market capitalization of the company to more than $280 billion, making it theIn February this year he likened Tesla's stock market rally toRead More:

Well, whatever he says has nothing to do with reality. Lol

Why are you asking a dude that has been wrong about Tesla for the past 10 years for his oppinions?!? How is that interesting? It’s like you WANT to stay misinformed and what worse is, keeping your readers misinformed. 😂

Its not 1980s anymore, goodbye!

Bob has been wrong for years now about Tesla ... he was good in the past about the auto industry. Stock prices are highly volatile. But the shift to electric is now irreversible.

neither do I but I’m here

The stock market has nothing to do with reality and it is solely being pumped as an asset bubble by the Federal Reserve central bank. The economy is in a recession while the stock market is rallying.

No, it's business....

It's all fraud

with 'your old and outdated' reality Mr. Expert.

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