Dissatisfied with Ford's EV strategy, dealers anticipate a decline in the value of the automaker's dealerships, while they hold optimistic expectations for showrooms selling Toyota and Lexus vehicles
America's car dealers have high hopes for the automotive industry in 2024, new research from Kerrigan Advisors has found. Of the 650 dealers it surveyed anonymously, 52 percent are expecting their businesses' valuations to stay high over the next 12 months. The strong performance, and the expectation that the good times will keep on rolling, means that dealers are looking to invest in their businesses.
Dealers remain unhappy about automakers' EV strategies, especially as the vehicles have started lingering on lots for longer, making Toyota's slow and steady approach appealing to them. This discontent is reflected in the list of brands dealers trust the least. Topping the charts are Ford and Lincoln, which were also the brands whose valuations were the least expected to increase. That may explain why the automaker is revisiting its EV plans.
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