I bought a Tesla. It has had problems. Tesla fixed them all. That’s a lot more than I can say for my old Lexus or other vehicles. No manufacturer has any customer loyalty. They’re only in business to make money.

Tesla’s stock value is too high, but it is high because the market believes one day it will actually be worth far more than any other car manufacturer. Please consider, no car manufacturer is also a:

• Supply chain — Tesla makes many of its own components, like seats and electronics.
• Fueling station network. Remind me again where are the Ford gas stations? Tesla’s supercharging network sells electricity to Tesla owners and soon, all electric vehicles.
• Battery manufacturer & soon a mining company.
• Dealership / sales / service provider. Most (all other?) car manufacturers are not dealers and do not have their own service operations. What is the value of all those locations from a business perspective?
• Insurance carrier? Now Tesla sells auto-insurance.
• Power Systems provider (solar and home battery systems). Sure this business seems to be small today, but the market is about hope and future.
• Electricity reseller? Tesla is now allowing Tesla Solar customers to sell their excess power to the grid to fill surge demand pricing. This has a huge opportunity to make millions if not billions for Tesla as their deployed powerwalls grow in the installed base.

There are probably other businesses I’m not even considering. But the point is you cannot compare Tesla to any single auto manufacturer as their business goals far exceed the scope of any of them.