Ford Is Betting on Demand for a $60000 Pickup Truck - Nasdaq
Looking to test the upper limits of what U. S. customers will pay for a pickup truck, Ford Motor Co. later this year will launch a new version of its best-selling F-150 with one of the highest price tags ever attached to its workhorse truck. Overall, the share of $50,000 and up pickup trucks sold in the U. S. has more than doubled in the last five years, climbing from 9% in 2010 to 22% this year, according to automotive research firm Kelley Blue Book. Ford, which reports its second-quarter earnings on Tuesday, has seen its mix of $50,000-plus pickup sales increase to 30% in 2015, up from 13% five years ago, while at Fiat Chrysler Automobiles NV, the mix is about 21%, up from 10% in 2010,... At General Motors Co. , the No. 2 pickup seller with the Chevrolet brand, its share of pickups selling for more than $50,000 has jumped from 6% in 2010 to 26% this year, the research firm estimates, a trend bolstered by the popularity of its more... "We really have a truck that is so versatile it is attracting the high-end luxury car buyer," said Doug Scott, marketing manager for Ford's F-series business. The average sales price of a F-series hit a record $44,000 in June, $3,600 higher than a year ago, and nearly half of the vehicle's buyers opt for a higher-end version. Source: www.nasdaq.com
