Ford is starting manufacturing on the most recent model of its F-150 full-size pickup truck, which is the bestselling automobile within the United States and an important product for the automaker.
Ford’s F-Series lineup of full-size vehicles is the business’s main truck model, and the F-150 makes up the lion’s share of gross sales. It has been the bestselling truck in America for 43 years.
But it faces relentless challenges, principally from American manufacturers from rivals General Motors and Fiat Chrysler.
Ford can be dealing with broader struggles. It has shuffled its govt ranks a number of instances over the previous few years. Current CEO Jim Farley is the third to take a seat within the position since 2014. Longtime high operations govt Joe Hinrichs, who was thought of a contender for the CEO position, abruptly announced his retirement in early 2020.
As of Oct. 15, Ford shares had fallen about 18% because the begin of the 12 months.
The newest model of the F-150 comes with some much-anticipated updates, akin to a hybrid powertrain choice that gives higher gasoline financial system, a 12,000-pound tow ranking and on-board energy retailers for instruments or electronics.
The truck can be the primary pickup to supply over-the-air software program updates, permitting Ford to make adjustments to the automobile remotely.
There are different vibrant spots. Ford is scheduled to start rolling out its Mustang Mach E electrical crossover, its first actual entry into electrical automobiles and an anticipated competitor with Tesla fashions, notably the Model Y. Its late-2019 rollout of the Explorer sport utility automobile was rocky, however that nameplate is a powerful vendor. And the corporate can be reviving the Bronco SUV, which has garnered quite a lot of reward and preorders.
But the F-150 stays Ford’s crown jewel, and it wants that truck now greater than ever.