Fisker and VinFast Shift EV Sales Strategies, Embracing Dealers
The electric vehicle (EV) market is witnessing a shift in sales strategies, with automakers reassessing their approaches in response to evolving market conditions. Fisker and VinFast are among the latest to adapt, moving away from direct-to-consumer sales.
Fisker has decided to scrap direct sales entirely, while VinFast is adopting a hybrid model that combines both direct and dealer-based sales. This change comes as industry experts suggest the window for direct-to-consumer EV sales may be closing. Other EV startups, though unnamed, have also made the switch to dealer sales.
Working with dealers can accelerate sales growth, help navigate complex state laws, and provide access to local markets. However, it may come at the cost of some control for the manufacturer. Fisker and VinFast believe this trade-off is necessary to ensure their success in the North American stock market today. Despite this, Tesla and Rivian have found success with the direct-to-consumer model, indicating that it may still be viable for some.
Customers' preference for the traditional dealership experience, including test-drives, also plays a role in this shift. Fisker, in particular, believes maintaining direct sales makes sense only if the company has sufficient time and resources to build its retail footprint.
As the EV market continues to evolve, so too do the sales strategies of its manufacturers. Fisker and VinFast's pivot to dealer sales reflects a broader trend, driven by market conditions, customer preferences, and the need to grow quickly and efficiently. The future of EV sales remains dynamic, with both direct and dealer-based models coexisting and adapting to meet the demands of the stock market today.
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