Photographer: Mike Birdy
“The time-honoured tradition of buying a shiny new sports car or a chrome-lined pickup truck from a lot may no longer exist a decade from now, according to a new report that paints a bleak future for auto dealerships in North America,” wrote Meegan Read for CBC News on June 13, 2017.
Read continued, “According to a study from RethinkX, an independent think tank in San Francisco, greater demand for electric cars, coupled with increased demand for ride sharing, will eventually eliminate the need for dealerships altogether.
The authors of the report — technology investor James Arbib and Stanford University economist Tony Seba — aren’t the first to prognosticate the death of dealerships, but it is the speed with which they think it will happen that is notable.
They believe it will occur in the next seven years.
It’s the “radically lower cost” of ride-sharing and electric vehicles that “really drives the speed and the adoption scale of this disruption we’re forecasting,” said Arbib.”
Read the full article here.
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