Yahoo Finance Live anchors discuss why Tesla owners are servicing their vehicles with General Motors.
RACHELLE AKUFFO: Many Tesla owners are turning to General Motors to service their vehicles as frustration with Tesla's complex repair network continues to mount. Now, Akiko, you know something about this, right? I'm a potential EV owner for one day, but you're living this right now.
AKIKO FUJITA: Yeah, I have been driving a Tesla for the last month, and it is difficult to get any kind of question answered, getting to service centers. When I'm in-- I'm in California, obviously, where there is a significant network. But let's talk about what GM has said. I mean, 11,000 cars is what they've reportedly repaired so far. We heard that from GM's president Mark Reuss in this investor presentation he gave last week.
And Rachelle, you know, this really points to the inherent difference that we have seen in the business models of these companies. You've got the traditional car companies that operate with a network of dealerships that they don't directly own, but that means-- this is according to one set that I saw-- that GM service centers-- Americans are within 10 miles of a service center for GM, as opposed to Tesla where they do directly own the service centers, as well as the sales centers, but that means there's not as many. And in some states, they don't necessarily operate.
So this is just anecdotal. I will say that as a car, Tesla has been good so far in the last month for me to drive-- save a lot on gas. But it is frustrating when you can't get to a service center because it's not as accessible.
RACHELLE AKUFFO: I bet, and looking at the notes that we heard from the president of GM, he said they're mostly coming to GM for collision repair, routine maintenance, brakes, tires. These are the essentials. And GM has gotten smart to this. And their service centers, they're now adding charging stations as well. So getting a little more into the game here, all thanks to Tesla. Go figure.
AKIKO FUJITA: Well, and you have to wonder how much brand loyalty gets built in as a result of that, right? That's kind of what GM is hoping, that you get Tesla drivers in, GM helps them out. Maybe that next car isn't necessarily a Tesla, but a GM.
RACHELLE AKUFFO: There you go.