For 2020, Ford is introducing out a new Mustang-inspired, all-electric crossover vehicle and bringing back the Ford Bronco SUV, which was discontinued in 1996.
Jim Hackett, president and chief executive officer, Ford Motor stands outside the headquarters as they celebrate the production of the 10,000,000 Mustang on August 8, 2018 in Dearborn, Michigan.Galhotra declined to provide specific details of the upcoming models, however he said the Bronco will "be very distinctively Bronco" and the EV crossover will be "a very exciting, fast vehicle" with design and performance "unmistakably Mustang.
"We're in the middle of all these launches, as we speak, and we have several more coming in the near-future," Galhotra said. "What this does is it really, really drops the average age of our portfolio."Refreshing the automaker's portfolio is expensive but considered necessary to remain competitive. It essentially means newer models in showrooms to retain buyers and attract new customers.
Ford, according to Galhotra, will lower the average age of its product portfolio in the U.S. from 5.6 years in 2019 to 3.3 years in 2020. It's forecast to be 3 years by 2023. That's being accomplished by cutting some unpopular sedans, including the Ford Taurus, and adding new models, according to Galhotra.
A slide from Ford President of North America Kumar Galhotra during the J.P. Morgan Auto Conference on Tuesday detailed the company's plan to lower the average of age of its vehicles."As most of you are aware, both revenues and margins are very highly-correlated to the average age of any [automaker's] portfolio," he said.
Following Galhotra's remarks, Ford's shares remained relatively unchanged after opening at $9.29 per share on Tuesday.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Tom Ford Is Starting a Skincare LineGird your loins (and your bank accounts).
Leer más »
Tom Ford Wants Skin Care to Be StimulatingThe designer is out to prove that all you need for plumper, brighter skin is a science-backed wake-up call.
Leer más »
'Apocalypse Now’ turns 40: Francis Ford Coppola recuts his film, again
Leer más »
A Closer Look at the Handbags That Debuted on Khaite’s Runway TonightFor her first line of minimal, ultra-luxe handbags, Khaite designer Catherine Holstein was inspired by luggage from the turn of the century, when women first began to travel alone.
Leer más »
Tom Ford Is Starting a Skincare LineGird your loins (and your bank accounts).
Leer más »
Ciara Is Allegedly Dropping a Beauty Line, and We Have a Name PredictionThe new line will reportedly include both makeup and skin care.
Leer más »