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or Name
USA
CA



General Motors Company
Symbol GMM
Shares Issued 1,609,734,204
Close 2014-10-22 U$ 31.22
Market Cap U$ 50,255,901,849
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Globe/wire say GM supports restrictive Tesla proposal

2014-10-23 07:00 ET - In the News

The Globe and Mail reports in its Thursday edition that Tesla Motors may get the last laugh on Michigan's protectionism. A Reuters dispatch to The Globe reports that the home state of General Motors, Ford and Chrysler on Tuesday revised a law to ensure the rival California automaker cannot sell its electric vehicles directly to customers. Reuters says it is a rich decision for an industry with a history of lobbying for freer trade. Reuters believes a groundswell against the farcical dealer model should eventually win the day. Michigan is the fifth state to protect auto dealers. The law signed by Michigan Governor Rick Snyder is even more egregious than ones enacted elsewhere. First, Michigan already bans an automaker from selling cars "other than through its franchised dealers." Legislators, however, quietly removed the word "its." The law appears designed to help dealers avoid the prospect of Tesla taking its case to the state Supreme Court. Michigan's law may prevent Tesla from even opening information-only stores, something no other state has tried. GM publicly supported the restrictive proposal. The hypocrisy is all too blatant. GM has long pushed for lower barriers overseas.

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