When most of China’s auto dealers began to complain that the days were not too good, Buffett’s Warren Buffett announced his entry into the auto industry. At the recent Berkshire Shareholders' Meeting, Buffett talked about the car dealership business. He said that the acquisition of car dealers will become an important part of Berkshire's future.
In 2014, Buffett acquired Van Tuyl, the fourth largest car dealer in the United States. Before the acquisition, the company had 81 sales outlets and sold 139,538 new cars in 2014. Buffett said that he did not pay attention to its short-term profit return before conducting a commercial transaction. He is very optimistic about the future development of the automobile industry and the automobile sales industry, and is willing to open up this new field.
Buffett believes that investing in auto dealers is based on their localized operational capabilities. In short, the more expensive, larger, and more complex the product, the higher the consumer's demand for localization. The root cause of e-commerce's threat to traditional models is not that the e-commerce model can completely replace traditional sales, but that the prices and services of traditional businesses are inherently flawed. Therefore, consumers will go farther and choose online shopping.
The Zhongguancun electronic consumer market in Beijing is a realistic version of the textbook. Many merchants have a very poor reputation, shoddy, and even strong buy and sell. Many traders even follow the customers to carry out harassment sales. In the e-commerce platform such as No. 1 shop and Jingdong, it is quiet and fair, and all the prices of goods are open and transparent. E-commerce does not eliminate the Zhongguancun market, that is not to say.
The same is true for car dealers. The vast majority of consumers who buy cars in China share the same feeling. Those who know acquaintances and who don’t know each other have different prices. Knowing the leadership and the first time they arrive at the store, the services they receive are not the same. The same; the consumer exposure of the media and the treatment of a flat-headed people will also be different.
Many of China's auto dealers are slowly moving along the Zhongguancun electronics market. They did not establish business barriers through more open and transparent customer service, just thinking about some tricks to stop the thirst. Dealers' misdeeds and deceptions, as well as utilitarian martial arts, are also one of the main reasons leading to the end of their own destiny.
"It was not bad for Taobao, but the traditional format was too bad." As Lang Xianping said. Buffett invests in car dealerships, indicating that the opportunities and future market potential of this industry are still there.
The world is increasingly open, the earth is increasingly becoming a global village. An industry may create a short-term trend through its own power in a short period of time, or create an atmosphere for a long time in a small area, but it is impossible to For a long time, create a situation against the trend of the world. Fair and transparent, can't do these two things, dealers have no hope.
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