Tesla’s market cap per car sold over the TTM period is $880.2k, or more than 44 times higher than Toyota. Power Initial Quality Survey, Tesla vehicles, in their first year included in the study, would[1] have ranked last among major automakers. I do not expect there will be any news that will remotely justify the cash flow expectations baked into the current stock price. Below, I use my reverse DCF model to quantify the cash flow expectations baked into Tesla’s current stock price. It shows how many vehicles Tesla must sell at lower ASPs compared to Toyota and GM’s actual 2019 vehicle sales.

Source: Forbes August 20, 2020 13:07 UTC