That's not even what happened. I work in the auto industry, and they very blatantly abused the rebate program with what are almost certainly fake vouchers.
Some individual dealerships reported thousands of sales in a single day, and that would be a miracle even at the best of times for a well established dealer. There's no way Tesla is declining around the world and still selling miraculous numbers of vehicles.
Yeah I was really confused by the story, surely they actually have to provide some kind of evidence. Surely the Canadian government didn't just run it based on honesty. Wouldn't they have to provide the VIN or something.
But the very least I would have assumed that they had to list the name of the person they sold the car to.
I wonder if there is the possibility of the shareholders suing Elon because what he's doing is so demonstrably damaging the company. He could totally have done this and not had the big PR problem by just not doing random stuff without running it past anyone. But nooo.
People weren't happy about him essentially buying a governmental position but what they really objected to is all the subsequent things he did.
This is one way to deal with conflict of interests not being addressed. Too badly it can’t work for everything else. Like I can’t “boycott” space travel.
Hopefully, this amounts to a fraud investigation and shareholders dump their stocks and cause Musk to fall below the margin call and then he liquidates and Tesla goes to rock bottom.
Option 2: Tesla filed a backlog of rebates when they realized they had to
Both are possible, but everyone is jumping to conclusion that it's option 1, while option 2 is the easier answer.
Also the government said they're going to let all the other rebates that this pushed out at the last minute get the rebate regardless of if these were legit or not.
Option 2 should be easy to prove, so why didn’t they do that already, like literally the same day they were accused of it? Then their funds wouldn’t have been frozen.
I imagine they probably don't want to release the information that would prove it if they could, and if they did it'd be redacted enough that no one would believe it anyway. It also costs money to fight endless things like this.
Ultimately, if the government comes back and says its legit, then people will believe it. If it's fraud, there should be punishment.
That whole 1.5 billion accounting fraud story last week, I don't think Tesla said anything official about it or done anything at least to specifically disprove it, but the FT has now retracted the story saying they made a mistake.
The federal government is following the same strategy as some provinces. British Columbia has recently banned Tesla products from its EV charger rebate. Nova Scotia just announced that it has excluded Tesla from its $2,000 rebate at the purchase of a new EV.
Quebec just relaunched its own EV incentive program today. It will come into effect next week, and so far, Tesla’s Model 3 and Model Y vehicles are still included in the list of eligible vehicles.
Quebec always marches to a different drummer. Nevertheless, I expect they will be dropping the Tesla vehicles from their list sooner or later. They may just not want to make any more adjustments so close to a launch.