One of the largest automotive dealers in the US just had a rough sale of BMW, and a senior manager said Tesla Inc. has played a major role.
Sonic Automotive Inc. quarterly earnings on Wednesday, which missed analysts' forecasts. Jeff Dike, president of Sonic, said the "challenging" times for BMW AG and Honda Motor Co. are partly to blame. Many of Sonic's who sell the brands of these companies are in California, the home of Tesla's headquarters and the largest model 3 sedan market.
Asked by an analyst whether Tesla included BMW's challenges, Dyke responded to revenue Sonic "I did not think."
"I spent a lot of time in production meetings, and five years ago Tesla was not even a big deal," Dyke said. "Today she is on the top of everyone's board and should be."
Tesla has abandoned the traditional dealer network in favor of direct sales from its stores and online orders. While other retailers criticized CEO Elon Musk's approach and said it could delay the supply and repair of the electric car manufacturer, Dike gave credit to the billionaire. I will continue to sell more cars, and I do not know whether it is more a cult than anything else, "Dike said. "My hat before them ̵