“Tesla is currently selling about 1 million cars per year. That number is going to grow. When I look at Ford, which is selling approximately 5 to 6 million cars per year. I think Tesla will get up there, so therefore under that argument I think it should be worth at least as much as Ford, maybe twice as much as Ford, maybe 3x as much as Ford. But 8x as much as Ford? I think that’s too high,” Janjigian said.
If Tesla plunged to a valuation that was three times as much as Ford, it would be worth $135 billion. That would represent a 65% slump from current levels, and an 89% fall from its peak valuation of more than $1.2 trillion.
“Are they going to be the only car seller in the world? Are they going to put all these other automobile manufacturers out of business? If that’s the case then [they should be valued higher]. But Ford is also making EVs. GM is making EVs. Every single manufacturer now is trying to grow their EV business, and they have a lot of years of experience behind them… so I think that they will eventually catch up [to Tesla],” Janjigian said.
