Warning to all Tesla longs - Please read this & then Run
A proposed bill in North Carolina that would make it illegal for electric car maker Tesla Motors to use its direct-sales method to sell cars in the state. The bill, which passed the state Senate in a unanimous vote Monday night, would prohibit car manufacturers or dealers from selling their cars to consumers without using a licensed dealer. Manufacturers would be barred from "using a computer or other communications facilities, hardware, or equipment" to sell or lease a car to anyone in the state, according to the legislation.
If approved, the bill would render a car manufacturer like Tesla unable to legally sell cars in the state. Since the company bypasses traditional dealerships by selling directly to consumers and allows buyers to place their orders online, it would not meet the state's definition of a "dealer."
This legislation is a "company killer", and anyone buying Tesla or holding its stock could be wiped out if NC passes a bill that prohibits Tesla from selling cars directly to consumers.
I guess this is the American way. A bunch of car dealers get together, grease the politicians to pass a low to help protect a monopoly. In the end, who gets screwed, the little guy now has to go through a middle man to buy this car.