Buy A Tesla Before The Automaker Goes Bust, Says Bob Lutz

Bob Lutz, outspoken automotive industry veteran and former vice chairman of General Motors, claimed that Tesla would be going out of business last November. That stirred up some controversy. Now, Lutz has returned to the limelight by stating that collectors should purchase a Tesla Model S before the electric automaker goes bust.

According to a report by the Los Angeles Times, Lutz passed on a piece of advice to an audience full of vintage-car collectors in Scottsdale, Arizona: purchase a Model S “while they’re still available.” Lutz has never been one to hold back and usually tells it like it is, so you might want to heed his advice.

Lutz apparently is a massive fan of the electric sedan. “A Model S, especially with the performance upgrades, is one of the fastest, best handling, best braking sedans that you could buy in the world today,” he said at a forum. “The acceleration times will beat any $350,000 European exotic.”

When it comes to Elon Musk, however, Lutz believes that Tesla’s CEO “hasn’t figured out the revenues have to be greater than costs… when you are perennially running out of cash you are just not running a good automobile company.” Lutz does have a point there, as the EV company was reportedly going through roughly $480,000 every hour last November.

Unfortunately, Lutz doesn’t see anything changing in Tesla’s future when it comes to fund, although he did say that he is “semi-serious” about suggesting collector’s purchasing a Model S.

One way for Tesla to prove Lutz wrong is to make sure that the Model 3 is a hit, which would involve fixing the electric sedan’s issues and start rolling them out in serious numbers.