Ford Motor Company Throwing Away Dealership Model? PART 1 #shorts

Ford Motor Company: Part 1
Ford plans to revamp its dealership business by developing an e-commerce platform where consumers can purchase EVs at non-negotiable pricing to match Tesla's profit margins. CEO Jim Farley stated at the Bernstein Strategic Decisions Conference that Tesla's second-quarter profit and $15,000 premium transformed his world. Ford is predicting tremendous consolidation as the auto industry builds more EVs. This is all happening while the automotive industry is still feeling the effects of a supply chain crisis and dealerships charging buyers for new cars. Basically, what they're saying is that future merchants won't retain inventory. Instead of shipping to the consumer, remote pickup and delivery will be used. Think Tesla.

Automakers have minimal control over their dealership networks, so going online only would be difficult. State rules protect car dealers, who spend millions yearly on lobbying. Tesla's retail outlets and lack of dealerships help minimize expenses and maintain earnings. Ford isn't only revamping its automobile sales strategy. Ford split its EV and combustion units this past March.

Ford's CEO compares their sales methodology to Target's effort to compete with Amazon. He responded, saying that even tho the physical stores are starting to disappear, their e-commerce has not. They want to go 100% online so that inventory is delivered straight to customers.

It will be an interesting transition to watch. #ford #documentary #tesla

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