They say that the coronavirus pandemic has brought forward changes in many industries. Food, pharmacies, garden centres have dramatically changed their models. We reckon what may have happened over the course of five years, has been brought forward by 2, 3 or even 4 years. It is possible that its effects will run even deeper and change everything even faster.
Take, for example, the headlines in the Financial Times this week. Normally there is lots written about all types of market development. Instead the first 10 articles are all about electric. “Battery start-up in Wales”, “BMW agrees €2bn battery contract”, “Nissan unveils new electric rival to Tesla”, “Rethinking Energy”, “Tesla’s share price rise stuns Musk”. And those are just the first five or six. Everything is focusing on electric, it will all change.
One of the main drivers of this, of course, ore the European regulations for manufacturers this year. Perhaps they won’t be facing quite the £30bn fines that many were worried about, that is only because vehicle sales will not be quite at those levels. If they do not get their emissions mix correct, then they will certainly face the wrath of the EU commission.
All of this poses real problems for the dealers, of course. I have used the analogy before, but we are moving to a completely new technology that needs very different levels of maintenance. And we all remember (if we are old enough) those TV shops of our youth, with a thriving aftersales department replacing the valves in your television, or giving the rented TV set a service. They have just been re-tuning the three channel buttons, but it made money. Then all of that disappeared from the High Street, and TVs just became throwaways.Nobody is quite suggesting you are going to start throwing away cars in the same way, but when the only replaceable part at a 20,000 mile service is the pollen filter, dealers are going to have to think up some very creative ways of making money out of aftersales if the whole fleet goes electric.
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There is no end to the adventures that we can have if only we seek them with our eyes open.
Jawaharlal Nehru (1889 – 1964)
Well done is better than well said.
Benjamin Franklin (1706 – 1790)
One never notices what has been done; one can only see what remains to be done.
Marie Curie (1867 – 1934), letter to her brother, 1894
Keep on going and the chances are you will stumble on something, perhaps when you are least expecting it. I have never heard of anyone stumbling on something sitting down.
Charles F. Kettering (1876 – 1958)