Ford CEO Jim Farley is laying down the law, warning dealers the company will withhold inventory from those that gouge customers.
Automakers around the world are struggling with a shortage of semiconductors and components, leading to constrained inventory. Some dealerships have responded by trying to take advantage of the situation, charging customers exorbitant prices.
The practice hasn’t gone unnoticed by the powers that be at Ford, according to Bloomberg. In fact, Farley is promising such behavior will cost those dealerships.
“We have very good intelligence of who they are and their future allocation of product will be directly impacted because of that policy,” CEO Jim Farley said Thursday on a conference call with analysts. “We have about 10% of our dealers last year in the supply constrained environment that we’re in charging above MSRP to the best of our knowledge.”
Any time there is constrained supply, there are always those who would take advantage of people. Hats off to Farley and Ford for cracking down on such behavior.
