“Tesla is great, but you’ve got plenty of well-established brands that mean luxury, like Porsche or Mercedes-Benz, and how long do you think we’re going to wait and let Tesla be out there alone [selling premium electric cars]?” he said. “So, good job, Tesla, but will they be able to maintain that with the others of us out in the market? That remains to be seen.”
Cannon said Mercedes will attract more buyers than Tesla on this high-end alternative-fuel front because of its extensive dealer network, its multiple peripheral power train options (diesel and gasoline), and its ability to “cater to luxury consumers” with “a complete luxury experience” when they buy and service their car.
“Consumers want all of that, but they aren’t going to want to pay for it, and the potential of fully electric vehicles for the rest of my life and a good portion of the rest of your life will be limited,” he said.