Tesla Motors Inc. (TSLA) is facing a defy from Georgia dealerships over how it sells cars, according to the asserts made in a petition filed in support of auto retailers in the state with the intention of it breached its license contract are not applicable. The Georgia Automobile Dealers Association filed a complaint by means of the state’s revenue department previous week, declaring Tesla broke rules, which stipulate it’s limited to selling lower than 150 of its electric sedans directly to customers each year.
After adverse events, Tesla Motors might have to suspend operations in Georgia. The Georgia Automobile Dealers Association recently filed a complaint with the Georgia Department of Revenue, asking for the authority to ban sale of Tesla’s Model S sport sedan and the upcoming Model X SUV in the state.
On the other hand, Tesla Motors, Inc.’s (TSLA) shares in stock market have upgraded rating by a Stifel Nicolaus analyst. Tesla hit the earlier all-time high of $272.00 on the news of a contract with China’s second leading mobile carrier, China Unicom to develop a network of charging stations in the country. The experts also think that Tesla has purchased a secure position in the luxury electric vehicle market. The firm’s established brand name and production process place position it positively in comparison to other vehicles competing in this field.