Let's see Tesla's growth rate when they're closer to Toyota's size. And speaking of meaningless numbers, who cares about market cap? How does revenue compare? Toyota is about 3x, I think?
Tesla sales growth currently seems limited by their ability to produce, so that's fairly bullish
Market cap isn't meaningless, though. Neither is debt. Market cap should be a function of assets, so presumably if Toyota had as little debt as Tesla it would be ~480b market cap.
Why is Tesla higher? It has a better story (not saying I buy it, but at least I can explain it!):
Better self driving prospects (data + compute), licensing charger design, huge growth numbers
I'd love anyone to justify that with a straight face.
There are lots of reasons for that enjoyment, but I'm not sure they matter
Not sure what point your trying to make, though. Smaller, faster-growing companies usually do trade at a premium over their larger, slower-growing counterparts. That's just... kinda how the stock market works?
You can certainly object to the magnitude of the difference between the two companies' PE ratios, but otherwise nothing seems weird here.
The Model Y Performance was $69,990 last year and now costs $54,490.