Recession USA 2020

European carmakers moving to online sales model amid pandemic (OTCMKTS:VWAGY)

Pursuing an opportunity created by dealer showroom shutdowns and surging consumer comfort with online big-ticket purchases, several European carmakers are rolling out internet-based sales channels.

Peugeot parent PSA expects to deliver more than 100K vehicles direct to buyers’ homes.

Volkswagen (OTCPK:VWAGY) will do the same for its flagship ID.3 electric car starting in September. It expects to release 75 battery-powered models in the next 10 years, all expected to be available online as well as through traditional dealers. It plans to sell the ID.3 at a standardized price in Germany regardless of where or how the car was bought. Traditionally, dealers set their own prices.

Mercedes-Benz maker Daimler (OTCPK:DDAIF) already sells cars directly in South Africa and Sweden and plans to roll out the same in Austria next year.

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