Tigress Financial Partners CIO Doesn't Think Chevrolet Bolt Will Draw Consumers Away From Tesla Model 3

When asked about the General Motors Company GM reveal of the Chevrolet Bolt, Tigress Financial Partners Chief Investment Officer Ivan Feinseth told Benzinga that there will be a lot of competitors for the Tesla Motors TSLA Model 3 based on the production runs.

He said there’s going to be, without question, much more plug-in electrics from General Motors, Ford Motor Company F and many other automakers.

But it won’t take consumers away from Tesla, Feinseth explained, because the electric vehicle maker already has a lot of brand and luxury cache that puts it ahead of others. He added that there’s the additional appeal of Tesla vehicles because there is still a limited production of cars.

“If you’re a Tesla owner, you’re still in an exclusive club,” he said.

Tesla ended Monday’s trading session down more than 2 percent, while General Motors and Ford were both higher.