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Tesla dropped 8% yesterday, but it’s still more valuable than the next 40 automakers combined

Tesla’s $1.4 trillion valuation in context.

12/19/24 9:24AM

Traders reached for the sell button en masse yesterday after the Federal Reserve’s inflation concerns spooked the market, putting stocks under serious pressure in the afternoon with the S&P 500 Index dropping ~3%. That sell-off dragged stocks like Tesla down sharply, reversing some small portion of the more than 70% gains Tesla had made since the election, but it still leaves the company’s market cap well north of $1 trillion, a milestone it first crossed three years ago after signing a deal with rental-car company Hertz.

Back then, Tesla’s valuation overshadowed the entire industry. Little has changed. Indeed, Tesla is still flexing its financial dominance in the auto world, with the EV juggernaut’s $1.4 trillion market cap more than the next 40 largest public automakers combined, per data from CompaniesMarketCap. That includes industry heavyweights like Toyota ($233 billion), BYD ($109 billion), Xiaomi ($100 billion), and Ferrari ($78 billion).

The EV market faces uncertainty as Trump pushes to eliminate the $7,500 tax credit for EV purchases — a move that could dampen consumer demand. However, Musk has voiced support for such changes, which some analysts expect to strike a harder blow on Tesla’s competitors than the Austin-based automaker itself.

Through his new leadership at the Department of Government Efficiency (DOGE), Musk also plans to loosen regulations for driverless vehicles, potentially paving the way for Tesla’s next major ambition.

Max Knoblauch13h

Netflix is hiking its prices again

Netflix is raising its subscription prices for the fourth time in four years, a move first spotted by Android Authority.

Per Netflix’s US pricing page, the cost of an ad-supported plan is climbing $1 to $8.99 per month, while the cost of a standard ad-free plan is going up $2 to $19.99 per month. The premium tier has also risen $2 to $26.99 per month.

The streamer last raised its subscription costs more than a year ago in January 2025. It also hiked prices in 2023, 2022, 2020, and 2019. Netflix shares climbed about 2% on the news.

“Our approach remains the same: we continue offering a range of prices and plans to meet a variety of needs, and as we deliver more value to our members we are updating our prices to enable us to reinvest in quality entertainment and improve their experience by updating our prices,” said a Netflix spokesperson, in a statement to Sherwood News.

Netflix is hiking your prices yet again: Standard, premium, and ad-supported all going up

The streamer last raised its subscription costs more than a year ago in January 2025. It also hiked prices in 2023, 2022, 2020, and 2019. Netflix shares climbed about 2% on the news.

Hyunsoo Rim

going clear

16h

How record wait times at US airports are sending one app soaring

Demand for Clear Secure services are surging as travelers look to bypass TSA lines.

Group of people standing in queue at boarding gate

Claire Yubin Oh

direction-to-consumer

3/25/26

Apple says it’s bringing ads to its Maps app this summer

That could be another boon for its fast-growing, high-margin Services division.

Target Opens "Target SoHo" - A Design-Forward Shoppable Concept Store In SoHo, New York

As Target alters its dress code, it also wants staff to buy more of its clothes

The retailer’s apparel and accessories sales hit their lowest point since the pandemic last year.

Tom Jones3/25/26

Max Knoblauch3/25/26

Sony and Honda are scrapping Afeela, their joint EV that you could play PlayStation in

Less than two weeks after Honda said it would take an up to $15.7 billion write-down as it restructures its EV business, the automaker is scrapping an electric vehicle made in a joint venture with Sony.

The Afeela 1, a $90,000 EV with PlayStation 5 integration, was set to begin deliveries later this year.

A nearly six-figure EV that you could play “The Last of Us” in doesn’t exactly sound like a bestseller in the current electric vehicle landscape, but the announcement is still surprising given how far along the joint venture was. The JV had a ribbon-cutting ceremony to mark the grand opening of its delivery hub in California on March 21. At the Consumer Electronics Show in January, the JV teased a crossover SUV prototype as a second model.

In Honda’s EV write-down announcement earlier this month, the automaker canceled three models planned for production in the US.

Sony-Honda JV Abruptly Scraps Afeela EVs After Honda's $15.7 Billion Writedown | EV