Electric vehicle pricing and days' supply of high-priced EV nameplates appear to be top of mind for some of the nation's largest auto retailers, especially amid price-slashing by U.S. EV market sales leader Tesla Inc.
Sonic Automotive Inc. President Jeff Dyke, on the company's July 27 second-quarter earnings call, said Tesla's pricing strategy has been felt not only by its franchised dealerships selling used Teslas, but by its new-vehicle business overall.
"It's certainly playing a role against electric vehicles from a new-car perspective because [automakers are] having to get more aggressive in terms of their pricing," said Dyke, who praised EVs from Mercedes-Benz, BMW, Audi, Lexus and Toyota, brands that Sonic represents in its dealership portfolio.