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Bob Lutz, famous "czar car" and former vice president of General Motors
GM + 1.88%
has never really been to pedal on his opinions, as controversial or as curious as they may seem.
In fact, the former Navy has already called climate change "total shit" and said that its rival Toyota
TM + 0.29%
pushing in the hybrids was nothing more than a publicity stunt and made "no economic sense".
He targeted Tesla
TSLA, + 3.62%
In recent years, in 2017, the automaker "will never reach 2019." This week, with the difficulties of CEO Elon Musk, Lutz feels good about his bearish stance:
"It's a car company heading to the cemetery … Jaws tighten, and I think a year later we'll see a movie called" Who Killed Tesla, "a conspiracy film starring Leonardo DiCaprio. "
Lutz talks about "Who Killed the Electric Car", a 2006 documentary that has put GM in the lead in the slowing down of the electric car market.
MarketWatch photo illustration / iStockphoto, Everett, Tesla
In an interview on CNBC, Lutz said that Musk was a nice guy, but he does not know how to run a car company.
"They will never win money on model 3 because the cost is too high. It has 9,000 people in this assembly plant producing less than 150,000 cars a year. The whole thing is not calculated, "he continued. "Tesla has no technological advantage, no software advantage, no battery advantage. No benefit whatsoever.
Lutz has designated Audi, Mercedes, BMW and Porsche as viable competitors in the space, able to sell their cars at a loss and catch up with their other models, if any. Meanwhile, Tesla continues to "bleed his money".
At the last check, Tesla shares bounced a bit, up 3%, while the Dow Jones Industrial Average index
DJIA, + 0.70%
had a rally of 200 points. Tesla was hit on Tuesday by a report that the company was under criminal investigation for Musk's infamous private tweet.
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