Bob Lutz, the blunt-talking former vice chairman of General Motors Bob Lutz has no idea why Tesla stock has rocketed more than 250% in six months.. General Motors ' former vice chairman Bob Lutz has changed his tune regarding Tesla, going from predicting in late 2018 that the company was "headed for the graveyard… For more information, see our Sign up and get the best of Automotive News delivered straight to your email inbox, free of charge. This is Bob Lutz, who has been a major critic of Tesla, giving an interview in a major car magazine/site. Former GM executive Bob Lutz said Wednesday the he is finally encouraged by Tesla under CEO Elon Musk's leadership. “It is always struggling for profitability, yet it has a huge market cap.”While Lutz did acknowledge Tesla has “very good technology” and Musk has done a “brilliant job,” he pointed out that the other car behemoths have made similar advances that stack up well. Yes, I'd like to receive valuable information about special editorial content, new features and research from Yes, I'd like to receive information and whitepapers from select third-party partners of Former GM executive Bob Lutz said Wednesday the he is finally encouraged by Tesla under CEO Elon Musk’s leadership. attorney: No pressure from White House, AG's Office to speed UAW probeGhosn's accused escape plotters face judge's skepticism in extradition fight Sponsored Content: Kia chief designer on the new K5Yes, I'd like to receive information and special offers about Automotive News subscriptions. Tesla CEO Elon Musk is a nice guy who doesn’t know how to run a car company, Bob Lutz, former vice chairman of General Motors, told CNBC on Tuesday. He's been this way for years.Lutz's general conclusion is that Tesla is doomed, and it might happen sooner rather than later. InsideEVs: France InsideEVs: Italy By using this site you agree to the
“Tesla may be giants in the electric car business but annually they [make] 300,000 cars compared to 10 million a year for Toyota, about 8 million a year for GM,” he said. Tesla Hopefully, Tesla will survive in a good shape, improving its weaker points (as some are real), as the times ahead are very challenging. "The 87-year-old also complimented Musk for toning down his boastful and often erratic behavior. Bob Lutz, the quote machine who used to be vice chairman of General Motors, seems to have changed his tune about Tesla, a company he once predicted was "headed for the graveyard.". Lutz is giving high praise to the Tesla T3's "fit and finish". “They will … Tesla Model S. Image source: Tesla. Bob Lutz concluded, "Tesla will have about a year until each of the big global auto companies has its own fleet of electric vehicles on offer. ... As long as they can keep that premium pricing, which is, as I say, about $33,000 over where they had originally talked about, obviously that car is going to be profitable. "Please select at least one newsletter to subscribe.You can unsubscribe at any time through links in these emails. Bob Lutz, the quote machine who used to be vice chairman of General Motors, seems to have changed his tune about In an interview with CNBC last week, Lutz praised Tesla CEO Elon Musk for reining in costs and finally running the California-based automaker "like a normal business. Industry Outlook, bob lutz Tesla Sales Surpass 1 Million Electric Cars GloballyElon Musk: Tesla Will Move Its HQ And Future Programs To Texas/NevadaBob Lutz Says Tesla’s Stock Valuation Is 'Almost Mass Psychosis'Bob Lutz: Tesla Is Finally Being Run Like A Normal Business In February this year he likened Tesla's stock market rally to Registration on or use of this site constitutes acceptance of our "He pointed out while Tesla has "very good technology" other automotive giants such as GM, Ford, Toyota, Volkswagen, Porsche also have comparable technology. Follow him on Twitter @slangwise. Some thought that Bob Lutz, a longtime auto executive turned industry commentator, has turned a new leaf when it comes to Tesla after some positive … The soaring stock price has also pushed the market capitalization of the company to more than $280 billion, making it the This is not the first time Lutz has criticized Tesla for being grossly overvalued. First of all, Bob Lutz, a former top leader of Ford, Chrysler and GM, is very skeptical and sometimes also derisive about Tesla. Neither do Wall Street's brightest minds, the auto-industry veteran …
When he speaks, people listen. ""He's reduced personnel and reduced unnecessary expenditures and has basically done what any other businessman would do in a situation where you're selling a bunch of stuff but you're not profitable," Lutz said on "Squawk on the Street. Bob Lutz, the blunt-talking former vice chairman of General Motors GM, +6.47%, said almost two years ago that Tesla was “headed for the graveyard.”Then, earlier … Bob Lutz, who held top positions at the Big Three US automotive companies, told CNBC's "Squawk Box" Tuesday: "Tesla is not a very profitable company …
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