Automotive
The Ford Motor Company intends to expand its SUV lineup in an effort to become a much bigger player in the growing global SUV market.
The SUV segment has seen a drastic growth in recent years, and not just in the United States, but in other large markets around the world, as well. In the U.S., SUVs have always been selling pretty well, but lately they have become increasingly popular across the globe, becoming the best-selling segment in Europe in 2015, while Asia-Pacific is the largest market for SUVs in the world.
The recent global growth of SUV sales has been attributed to falling gas prices, increasing fuel efficiency, and improving economy, among other factors. Many automakers are well aware of the increased consumer interest in SUVs and crossovers, so they are putting more focus on the development of new models that are more affordable and more efficient. One such car maker is Ford, which intends to expand its SUV lineup in a bid to become a much bigger player in the global SUV market.
Related articles
Four New Models in Four Years
Ford Motor Company has announced that it plans to launch four new SUV models by the end of the decade, a decision that is based on the obvious growth of the SUV segment and the expected rise in sales for years to come.In a press release, the automaker states that it is adding four new models to its SUV lineup, citing the main factors that have affected this decision, such as the increasing number of Millennials starting families, aging baby boomers increasingly opting for SUVs, and improved fuel economy of its own SUVs making these vehicles more appealing to consumers.
“As members of the 80-million-strong millennial age group enter their prime child-rearing years, a leading indicator of more SUV sales, nearly 80 million aging baby boomers continue to prefer their SUVs,” said Mark LaNeve, Ford Motor Company vice president of Marketing, Sales and Service. “It’s a demographic double whammy and it all points to one thing – more SUVs for the foreseeable future.”
Ford is betting on the fact that a growing number of Millennials starting families tend to turn to SUVs, instead of sedans, which used to be the preferred choice for young people that are about to start a family.
Also, with Ford's SUVs becoming ever more fuel-efficient, thanks to the implementation of innovative engine technologies, consumer perception of SUVs as gas guzzlers is starting to change. Coupled with low gas prices, this makes for acceptable and affordable fuel expenses, which helps drive sales growth even further.
Possible Return of the Bronco
Ford did not disclose any specific information in regards with the models it intends to launch, but various media reports state that the carmaker is considering an introduction of a redesigned version of the Bronco, which was discontinued in 1996. A possible comeback of the Bronco has been rumored for a couple of years now, with Ford even unveiling a Bronco concept in 2004, and now, industry observers believe that there is a great chance for that to happen.As far as the other models are concerned, it's quite possible that some of them will be available with an electric or a hybrid powertrain, in addition to gasoline-powered versions.
0 comments:
Post a Comment