Co-author of the best-seller Modern Monopolies. Platforms like Facebook and Google are 21st...
Jim Farley, CEO of Ford, stated recently at a conference that he thinks Ford's EV sales may need to go 100% online, being sold direct to consumers at a non-negotiated price. I see this comment from the legacy automaker a huge news and a sign that we will see automotive manufacturers begin to cut out dealers and sell directly to consumers in a model similar to how Tesla sells its electric vehicles.
We continue to see many car dealerships increasing prices of new vehicles due to supply chain shortages and auto OEMs are not happy about this. I think Ford (and possibly other industry giants) are attracted to this new direct to consumer model as a way to better control brand image, connect with consumers, and set competitive pricing as some predict a pricing war in entry level electric vehicles over the next 5 years.
Ford CEO wants EV sales to be ‘100%’ online: https://www.engadget.com/ford-ceo-jim-farley-wants-ev-sales-online-no-car-dealerships-232018196.html
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