Tesla now 2nd largest US automaker as competitors’ sales falter

CHICAGO: Tesla on Monday became the second-largest US car maker in terms of market capitalization, displacing Ford, whose sales lagged amid concerns about the ability of the US market to keep growing.

Many major auto makers reported US sales declines in March compared to a year ago, but Tesla over the weekend said it saw a huge jump in vehicles delivered to consumers in the first three months of the year.