It’s the last Friday of the month as we pay tribute to a Ford leader who broke the mold. We also talk about a hot debate over legacy OEMs flirting with DTC models as well as consumer luxury purchases going on the rise.
This morning we pay tribute to Don Petersen, a transformative leader who guided Ford through a critical phase in the 1980s.
- Petersen, who passed away at 97 on Wednesday was at his home near Detroit in Bloomfield Hills, Mich., his niece Laura Peterson told Automotive News in an email., was celebrated for prioritizing quality and innovation, dramatically boosting Ford's market share and profitability.
- Under his leadership, Ford introduced influential designs like the aerodynamic Taurus and Mercury Sable, shifting industry standards towards more customer-focused products.
- He was known for fostering a collaborative workplace, which contrasted sharply with the autocratic styles of previous Ford executives. But at times was also said to have had some passionate outbursts.
- Petersen also spearheaded strategic acquisitions, notably purchasing a controlling stake in Hertz and increasing Ford's investment in Mazda, which significantly expanded Ford's global footprint and technological capabilities.
- "He insisted on teamwork and excellence in the name of customers and guided Ford through a period of revitalization," stated Ford Motor Co.
A recent Automotive News editorial is highliging a hot topic we’ll be discussing with the President’s of NADA and several State ATA’s on the main stage at ASOTU CON.
- Dealer associations are lobbying against direct sales models for new brands like VW Group’s Scout and Honda’s Afeela, pushing for adherence to traditional franchise systems amidst a slowdown in EV market growth.
- Tensions rise as dealers threaten to withhold service and parts for brands pursuing direct sales, fearing the impacts on their business model and the established relationships with legacy automakers.
- The advertisement by state dealer associations in Automotive News underscores a significant industry rift, as they urge legacy automakers to reconsider direct sales strategies that could bypass traditional dealerships.
- "We believe there is a difference between a brand recently born and one seeded, nourished and grown under the protective arm of a legacy automaker," emphasizes the importance of maintaining traditional retail models for established brands.
Despite economic inflation, the U.S. luxury goods market has seen a substantial 86% increase in purchase intent from 2021 to 2024, according to YouGov's latest survey.
- The survey reveals that 26% of respondents are likely to buy luxury items within the next year, a significant rise from 14% three years prior.
- Notably, 15% of Americans have actually purchased luxury goods over the past year, marking a 9% increase since 2021, with shoes, accessories, and beauty products leading the purchase categories.
- Shoppers between 35-44 were willing to shell out over $1,000 on their c
Hosts: Paul J Daly and Kyle Mountsier
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