My Tesla story from early March.
An electric carmaker is accusing Gov. Chris Christie’s administration of pulling the plug on its business.
The Motor Vehicle Commission has banned the direct sale of cars to consumers in New Jersey and ordered the makers of Tesla electric cars to close their stores in Short Hills and Paramus.
Tesla officials slammed Gov. Christie for backing the ban, and siding with the car dealership lobby.
A Christie spokesman said Tesla’s business model does not fall within New Jersey’s laws and that Tesla should have gone to the state legislature to get the laws changed.
Tesla has been selling cars to New Jersey residents for more than a year and does not sell their cars through dealers.
Customers say they don’t understand the problem with their current sales model. “It doesn’t make any difference,” says Robert Binder. “If you’re gonna buy a car, you buy a car. Whether it’s in a store or in a dealership, what’s the difference other than the name?”
“Since Tesla first began operating in New Jersey one year ago, it was made clear that the company would need to engage the Legislature on a bill to establish their new direct-sales operations under New Jersey law,” according to Kevin Roberts, a spokesman for Gov. Christie.
The MVC gave Tesla 20 days to close its stores.
Video Rating: / 5
April 1 (Bloomberg) — Former Chairman and CEO of Chrysler Robert Nardelli discusses the auto business and his outlook for Tesla on Bloomberg Television’s “In The Loop.” (Source: Bloomberg)
— Subscribe to Bloomberg on YouTube: http://www.youtube.com/Bloomberg
On “In the Loop with Betty Liu,” Betty Liu reports on breaking news headlines, Wall Street movers and shakers, global leaders, billionaires and interviews the most influential guests — all as the opening bell rings the market into action. Betty Liu’s robust team of Bloomberg TV reporters includes frequent appearances by Bloomberg market correspondents, among them: Julie Hyman, Michael McKee, Alix Steel, and more.
In addition to covering leading company news, the show highlights industry competitions including Samsung vs Apple, Pepsi vs Coke, and Aereo vs News Corp, along with coverage of the business leaders involved such as PIMCO’s Mohamed El-Erian, WPP founder Sir Martin Sorrell, AOL CEO Tim Armstrong, Apple CEO TimCook, Coca-Cola CEO Muhtar Kent, media mogul Rupert Murdoch, billionaire investor Warren Buffett and more. “In The Loop” broadcasts from Bloomberg TV’s New York headquarters, at 8-10am ET/5-7am PT. For a complete compilation of In The Loop videos, visit: http://www.bloomberg.com/video/in-the-loop/
Watch “In The Loop” on TV, on the Bloomberg smartphone app, on the Bloomberg TV + iPad app or on the web: http://bloomberg.com/tv
Bloomberg Television offers extensive coverage and analysis of international business news and stories of global importance. It is available in more than 310 million households worldwide and reaches the most affluent and influential viewers in terms of household income, asset value and education levels. With production hubs in London, New York and Hong Kong, the network provides 24-hour continuous coverage of the people, companies and ideas that move the markets.
Video Rating: / 5