The Ford boss says the Tesla Model Y could become commoditized and start losing sales if prices continue to fall.
. There is a lot more competition out there and Tesla has not followed the lead of the rest of the industry, which is diligent about keeping its models fresh and updated.
Count Farley as one of them. While Musk's moves to increase volume are rational, Farley thinks it will make vehicles like the Model Y commodities that will no longer be seen as special and sales will fall. The former Toyota executive likened it to the Toyota Prius phenomenon where they were hugely successful until they were so abundant that they lost their appeal and sales sunk like a stone.
Software updates are not enough—customers need to see and feel that their vehicle is new, Farley told a small group of reporters at a charity event for the Pope Francis Center in Detroit that helps the homeless.
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