Thursday, October 31, 2024
In February, Ford's Bronco and Ranger faced challenges with a 32.4% decline in Bronco sales and no Ranger sales reported. Despite this, Ford remains optimistic, attributing the low Ranger sales to recent model shipments. Notably, the Bronco is gaining market share and has seen the highest retail sales since the UAW strike. Additionally, Ford aims to expand the Bronco's appeal beyond off-road enthusiasts. The recent premium adjustment to the Bronco's MSRP and competitive pricing compared to the Wrangler further characterize Ford's strategic positioning in the market.
Ford has collaborated with Tesla to grant Ford EV owners access to Tesla's charging network in the U.S. and Canada via a Ford-provided adapter. Existing customers can obtain a complimentary adapter until June 30, after which it will cost $230. Adapters will be shipped by the end of March, with demand expected to exceed supply initially.
The NHTSA has revealed three recent recalls affecting over 150,000 Ford vehicles. The first pertains to Ford Transit cars (2023-2024) due to rear axle lubrication issues. The next involves E-350 and E-450 models (2021-2022) at risk of power steering problems. Lastly, Ford Expedition and Lincoln Navigator (2018-2020) face seatbelt locking concerns.
Ford's CEO Jim Farley discusses potential new manufacturing sites post-auto workers' strikes at the Wolfe Research Global Auto Conference. Ford reconsiders locations, especially for electric vehicles, after a 33% wage increase resulting from a six-week strike. Farley highlights a significant shift in Ford's union relations and manufacturing strategy.
Ford Motor Co. contemplates ditching automated parallel parking to slash expenses. Chief Operating Officer Kumar Galhotra unveils a cost-saving strategy, targeting $2 billion in savings. Discontinuing Active Park Assist could save $60 per car, amounting to $10 million yearly. The move aims to revamp manufacturing processes and reduce reliance on semiconductor chips.
Ford's ambitions for affordable EVs take shape as CEO Jim Farley unveils plans to revolutionize the market. A secretive "skunkworks team" has crafted a cost-effective platform, while a shift towards smaller, efficient models is imminent. With Farley's vision and Alan Clarke's leadership, Ford aims to conquer the EV landscape.
In January, Ford started the year strong in the American market, with a 4.3% increase in overall sales, surpassing Toyota. The success was attributed to the Maverick compact pickup and strong truck and van sales, outperforming General Motors. However, electric vehicle (EV) sales dipped by 10.9% due to various factors, including the loss of federal EV tax credits and weather concerns. Ford's trucks excelled in the hybrid segment, contributing to their impressive January performance.
Toyota, Ford, and Honda report earnings this week, facing challenges like higher costs, supply-chain issues, and pricing concerns. Toyota's shares outperform Tesla's, and its Chairman, Akio Toyoda, expresses skepticism about EV adoption in countries lacking charging infrastructure.