Tesla (TSLA) CEO backs petition to sell new cars directly to consumers

Tesla CEO Elon Musk asks for support to allow auto manufacturers to sell cars directly to consumers, while Tesla stock hits record $47 high Photo: Courtesy of Tesla

WASHINGTON, April 18, 2013 - Tesla CEO, Elon Musk, sent out a tweet yesterday to help gather electronic signatures for a petition to The White House to allow auto manufacturers to sell cars directly to consumers.

The petition, created by “K.L.” in Arizona, seeks to overturn state franchise laws requiring that only dealers sell new cars. The petition says, “These laws stifle the auto industry, keep prices of new vehicles up and reduce consumer choices. We need the federal government to step in and protect the consumer’s choice to a free market trade. Consumers have the ability to go to the internet to make informed decisions about what they are buying and should no longer be forced to deal with car dealerships. We the people implore the federal government to nullify these antiquated state laws.”

Tesla backs the petition and wants to sell cars directly to consumers, rather than going through new car dealerships.

The National Automobile Dealers Association (NADA) says it will continue to defend auto dealer franchise laws. In other words, the NADA wants to stop Tesla from selling cars direct in the states that it has such laws. 

Tesla’s stock (TSLA) hit a record high today, crossing over $47 per share on above average volume. The company’s shares continue to fight the tape, rising in the face of a declining market, which is often a sign of more good news to come. Tesla has its first quarter conference call coming up relatively soon, so analysts, media and investors will get a better view of the profit outlook. The company’s annual meeting has been set for Tuesday, June 4, 2013 in Mountain View at the Computer History Museum. 

Mr. Musk plans to have an update soon on the Supercharger network. Undoubtedly, this is one of the favorite subjects for all Tesla Model S owners. 

To sign The White House petition, go here.

 

 


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Jack Collins

Jack Collins is the founder and CEO of EV News Report. Mr. Collins is a world traveler and writer with a financial investment background from two major global investment firms. He is dedicated to the advancement of the electric vehicle industry and welcomes all insights from this community. You can find Mr. Collins most days running in Golden Gate Park in San Francisco.

 

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