April 4 (Reuters) - Tesla Inc, whose market capitalization passed that of Ford Motor Co. on Monday, still trailed General Motors Co as the most valuable U.S. auto firm in trading.

Tesla traded at $301.74 midday and had a market capitalization of $49.1 billion, according to Thomson Reuters data, compared with $51.1 billion for GM. Several news organizations reported incorrectly that Tesla had surpassed GM.

In trading Wednesday morning, Tesla's stock price was up to $303.70 and its market capitalization was at $50.33 billion, so it had moved to within $1 billion of GM. And the day is young.

There are many ways to consider value, however. Tesla on Monday said it delivered a record 25,000 electric vehicles in the first quarter, and it delivered 76,000 last year. It plans to begin production this summer of the mass-market Model 3 sedan.

Ford, by comparison, delivered 6.7 million cars last year. GM sold 10.3 million.

Tesla is still losing money, and its 2016 revenue was $7 billion. Both Ford and GM are profitable, with Ford's revenue at $152 billion and GM's at $166 billion.
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