Ford pledges to revamp and add to aging product line by 2020
- Author: Arturo Norris Mar 16, 2018,
Mar 16, 2018, 21:28
Everybody in the room knew by this point that Ford's future plans revolved heavily around trucks, but Ford's President of Global Markets, Jim Farley dropped a pretty hefty statistic to open his portion of the presentation.
Ford says it will have North America's freshest lineup among mainstream automakers by 2020, with the automaker pledging to replace more than 75 percent of its range and add four new trucks and SUVs by then. "After recently introducing an all-new model at each end of the SUV spectrum - the subcompact EcoSport and full-size Expedition - Ford's next push is in the highest volume SUV segments". These SUVs ensure that Ford is not down in the dumps.
By 2020, Ford expects pickups, utilities and vans to be 86 percent of its sales, up from about 70 percent today. The SUV is expected to be a potential rival to the Jeep Compass.
Ford's F-series pickup trucks are proved to be a success as they alone account for a $41 billion business which is more than the business of Nike or Coca-Cola.
The motoring company said it would add to its SUV lineup.
By 2020, Ford expects SUV sales in the USA could account for around 50 per cent of showroom movement, and because of this it is investing US$7 billion in capital from cars into SUVs. Additionally, the utility vehicles would be proficient enough to marmalade fuel.
On the fuel efficiency front, the Blue Oval automaker invested $11 billion to develop an electric vehicle architecture, which can better accommodate battery packs and fuel-efficient components than the old-school way involving slapping bulky batteries in cars that weren't created to properly house them.
They are proof, if any is needed, that Ford will engage in an oneupmanship with Toyota to become the #1 hybrid vehicle manufacturer in all of the USA. The carmaker is betting that hybrids, which haven't been popular with consumers of late, will undergo a revival and share space with a new generation of battery electric vehicles.
Farley made the intentions of Ford very clear when it comes to hybrids.
The upcoming Ford Mustang Shelby GT500 has been teased in a single frontal image ahead of its North American launch sometime next year. Thursday, CEO Jim Hackett sought to dispel that, detailing a strategy to offer hybrid models on almost every model line, including plug-ins, traditional (non-plug-in) hybrids or both. "We've moved past hybrids being a science project". That'll start in 2020 and within two years of that target, there will be six battery-powered electric vehicles on showrooms.
The automaker's head of global operations, Joe Hinrichs, told Fox News that he's seeing a growth in demand for off-road capable vehicles as more and more people are taking part in adventurous leisure activities.