Uber is more valuable than American car companies

Motor City just fell under the shadow of Uber.

The ride-hailing app is valuing itself in its latest financing round at $62.5 billion — well ahead of the market values commanded by Detroit-based General Motors and Ford.

At the close of regular trading on Friday, the market capitalizations of GM and Ford each hovered around $56.4 billion.

Uber’s reported valuation in the private markets also surpasses that of Honda, although it still falls short of Toyota, Daimler, Volkswagen and BMW.

Uber’s value is skyrocketing as investors continue to place big bets on its torrid growth. The San Francisco-based startup is looking to raise $2.1 billion, according to Bloomberg.

Uber lately has aggressively been branching into new businesses such as food-and-package delivery as it aims to become a comprehensive logistics provider that competes with the likes of FedEx and UPS — in addition to taxis.

Headed by hard-charging CEO Travis Kalanick, Uber also has been spending heavily to develop self-driving cars that some experts say could eliminate its need for drivers — and a major expense, of course — in a matter of years.

Investors in the current financing round include Tiger Global Management and T. Rowe Price, Bloomberg reported. Uber is also seeking “strategic investors with shared business interests,” according to the news service.

Strategic investors in an earlier funding round included Microsoft, which reportedly funneled about $100 million into Uber.