Tesla (TSLA) CEO Musk Looks to Change Texas Auto Sales
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Tesla (Nasdaq: TSLA) CEO Elon Musk is looking to change the way Texas sells its cars.
Under current Texas law, auto manufacturers are prevented from selling cars directly to the customer without having a relationship with a franchised dealer. Musk thinks that rule is wrong and took his argument directly to legislators on Wednesday.
The Texas Automobile Dealers Association is against Musk's proposal, which calls for the direct sales of electric or battery-powered vehicles to customers, saying that they see no reason why Tesla autos should receive a special exception.
Reuters pointed out that Musk thinks the measure is unlikely to pass in the state Capital, but he plans to keep trying for approval anyway.
Shares of Tesla are up about 3 percent on the session.
Under current Texas law, auto manufacturers are prevented from selling cars directly to the customer without having a relationship with a franchised dealer. Musk thinks that rule is wrong and took his argument directly to legislators on Wednesday.
The Texas Automobile Dealers Association is against Musk's proposal, which calls for the direct sales of electric or battery-powered vehicles to customers, saying that they see no reason why Tesla autos should receive a special exception.
Reuters pointed out that Musk thinks the measure is unlikely to pass in the state Capital, but he plans to keep trying for approval anyway.
Shares of Tesla are up about 3 percent on the session.
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