Chowdhry: Tesla Competitors Are 'Destined To Fail'
Global Equities Research’s Trip Chowdhry believes that competitors of Tesla Motors Inc (NASDAQ: TSLA) are destined to fail.
Analyst Trip Chowdhry quoted Sergio Marchionne, CEO of Fiat Chrysler Automobiles NV (NYSE: FCAU), as saying, "If he can show me that it can be done, I will do it as well, copy him, add Italian style to it and put it on the market within 12 months," and added that this statement highlighted the current state of mind of Tesla Motor’s competitors.
Competitors Can’t Match Tesla Motor’s Strengths
Chowdhry pointed out that Fiat Chrysler Automobiles intends to take a year to copy Model 3 from Tesla. He wrote, “This executive foolishly believes that he will have enough time to Wait and See...then Copy Tesla Model 3. He completely ignores the fact that by that time, TSLA would have already Obsoleted Model 3.”
Model 3, the new mass-market sedan being launched by Tesla Motors, has already received over 400,000 reservations. The company’s strengths include its focus on efficiency and range, performance and handling, besides building attractive looking vehicles.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.