Tesla Motors (TSLA) Will Have the Only Direct-Sales Model in This Key State
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Well, Tesla Motors (Nasdaq: TSLA) is now -- almost literally -- locking future competition out of its direct-sales markets.
GeekWire noted Tuesday that Washington State is allowing Tesla to open as many stores within the state as it wants. The policy was granted due to Tesla's existing vehicle license within the state.
The revised bill, which was passed by both Washington's House and Senate, prevents auto manufacturers from side-stepping the auto dealership model already in place in the state. There is a provision in the bill which grants an exception for a
While the bill still needs to be signed by Gov. Jay Inslee, it's a victory for Tesla fans and investors. Right now, Seattle is one of Tesla's most-lucrative markets given the wealth and tech scene present in the area. Whether other states will following Washington's lead is a topic that has been long-debated by followers of the company, regardless of their personal opinion about the cars or its direct-sales plans.
You can download the Washington bill here. (Note: a download will start for a pdf document.)
Shares of Tesla are down 1.7 percent ahead of its Q4 report, which is expected out after markets close Wednesday. For a brief preview of what to expect, click here.
GeekWire noted Tuesday that Washington State is allowing Tesla to open as many stores within the state as it wants. The policy was granted due to Tesla's existing vehicle license within the state.
The revised bill, which was passed by both Washington's House and Senate, prevents auto manufacturers from side-stepping the auto dealership model already in place in the state. There is a provision in the bill which grants an exception for a
manufacturer that held a vehicle dealer license in this state on January 1, 2014.
While the bill still needs to be signed by Gov. Jay Inslee, it's a victory for Tesla fans and investors. Right now, Seattle is one of Tesla's most-lucrative markets given the wealth and tech scene present in the area. Whether other states will following Washington's lead is a topic that has been long-debated by followers of the company, regardless of their personal opinion about the cars or its direct-sales plans.
You can download the Washington bill here. (Note: a download will start for a pdf document.)
Shares of Tesla are down 1.7 percent ahead of its Q4 report, which is expected out after markets close Wednesday. For a brief preview of what to expect, click here.
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