Customers of Tesla have filed a class action lawsuit alleging that the company’s monopoly on repairs has led to exorbitant prices and long wait times. Yahoo Finance’s Pas Subramanian commented on the lawsuit, stating that it was not surprising given that Tesla has engineered a proprietary car and that all EV cars are relatively new. He added that Tesla’s customers are limited to using Tesla service centers or authorized service centers and can only obtain parts from Tesla, resulting in extended wait times and high costs. Subramanian noted that Musk is front and center in several high profile lawsuits, which is not the case for most CEOs of traditional automakers. The discussion concluded that service center lawsuits like this are not a significant concern, but the involvement of Musk in such controversies requires investors to pay attention.
