Ford electric vehicles will be online only, have nonnegotiable price

Ford CEO Jim Farley said Wednesday consumers should plan to see dramatic change in the near term as companies compete amid the shift to battery-operated vehicles.

“We’ve got to go to nonnegotiated price. We’ve got to go to 100% online. There’s no inventory (at dealerships), it goes directly to the customer. And 100% remote pickup and delivery,” he said in New York during Bernstein’s 38th Annual Strategic Decisions Conference streamed live.

“Then we have this opportunity to use our physical presence to outperform” competitors, Farley said. “I think our dealers can do it. But the standards are going to be brutal. They’re going to be very different than they are today.”

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But that’s not all. 

Ford electric vehicles will be online only, have nonnegotiable price

He teased that the company sees potentially huge profits in building an electric vehicle for ride-hailing services Lyft and Uber.

“Shared mobility revenue will grow a lot,” Farley said. “No one has ever built a product for them.”

Meanwhile, the way car companies generate revenue may change, too — like renting cars for limited use and allowing customers to pay per mile or per day, Farley said.