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10/26, 2:26 PM (Source: TeleTrader)
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VW-1.24%

255.40
Chart for: VOLKSWAGEN AG ST O.N.

Tesla+4.56%

1,131.32
Chart for: Tesla

Musk: German car makers will rebound strongly

Tesla Inc. CEO Elon Musk commented on Tuesday on the state of Germany's car industry after his company's Model 3 became the best-selling car in the European Union in September. "German car manufacturers will rebound strongly. They possess great talent, which will not sit idle. Also, Tesla will soon be a German car manufacturer," he stated.

Musk made the remarks in response to German media claims that Model 3 outselling the Volkswagen Golf is "the end of an era for German car manufacturers." Tesla surpassed a market value of $1 trillion following a strong earnings report, as well as news that Hertz has ordered 100,000 of its vehicles.

Breaking the News / DJ