Tesla Worst Quarterly Loss & Expected to Grow Short-term

Tesla release the following details for their 4th quarter of 2017:

Tesla Investor Event & Details

15,200 Model S deliveries

13,230 Model X deliveries

1,550 Model 3 deliveries

2,520 Model S & X in Transit

860 Model 3 in Transit

Net Loss $675.4 Million or $4.01 per share from $121.3 million or .78 cents per share a year. 

Revenue Rose to $3.29 Billion from $2.28 Billion

Gross Margin fell to 13.8% from 22.2% below the 15.7% expected by Analysts.

Excluding items, the company lost $3.04 per share, Analysts were expecting $3.12 per share.

Tesla is now the 2nd most valuable US auto company behind GM which reported a net revenue of $145.6 Billion for 2017.

How the hell is a company losing nearly 700 million per quarter (and worsening all the time), making a mere $3B in revenue, be ranked #2 in value behind a company pulling down $150B in revenue? Are there only 2 US auto companies??