Mercedes Shareholders Concerned Over Tesla Model 3 Threat - Who Else Should Be?

Shareholders at Daimler on Wednesday expressed concern at the threat posed by Silicon Valley companies including Tesla, with one complaining the German group had no alternative to the electric carmaker’s models.

Investors’ concerns were given extra credence by last week’s unveiling of the Model 3, Tesla’s mass-market “affordable” car scheduled for delivery late next year. Demand has surged, with almost 300,000 customers paying $1,000 to register to purchase the zero-emissions car.

At Daimler’s annual shareholders’ meeting in Berlin, Ingo Speich, portfolio manager at Union Investment, said capital markets were worried that the “fat years” for premium German carmakers could soon be over.