Buyers who have bought Tesla cars should be concerned after the decision by the manufacturer to cut prices of their vehicles globally by 20 per cent, says prominent Canadian dealer Shahin Alizadeh.
Alizadeh, President and Chief Executive Officer of Downtown AutoGroup, which retails several brands and is the only autoplex in the world featuring residential, commercial and automotive, told Canadian auto dealer he’s been contacted by Tesla owners about the situation.
“I’m not an expert on what happens to every single valuation of a new car, but if I was sitting with a two-year-old or one-year-old Tesla I’d be very concerned about where things are,” said Alizadeh.
He posted on his LinkedIn account his thoughts on what Tesla did relative to other automakers.
“I generally have no opinions on Elon Musk and Tesla, other than watching the Musk Reality Show along with the rest of the world,” said Alizadeh on his account. “Imagine if any of the legacy automakers slashed their prices by the same ratio… It would be almost incomprehensible to expect the stock market to reward them with a 50 per cent lift in their stock value.”
“These are the kinds of things that make it very confusing to me, as someone who has been in the car business a long time, to really understand the nature of what this brand really represents,” said Alizadeh. “It’s a bit of a confusing set of facts that surround the brand. From a practical point of view I would not buy one, to be perfectly blunt. This has really put a bit of a damper in potential buyers’ perspectives as to how this company is run.”
