Ford's new F-150 is on the way, and the stakes are high for this product to aid its turnaround
The importance of Ford's full-size pickups, which include the F-150 and larger trucks, can't be overstated. The trucks accounted for 37% of the automaker's 2.4 million vehicles sold last year in the U.S. – 10 percentage points more than in 2010.
The F-150 is a key part of the automaker's plans to profitably grow the commercial side of Ford's business to aid an $11 billion restructuring and pay offThe nearly 900,000 F-Series pickups Ford that sold last year in the U.S. generated about $42 billion in revenue, according to a study Ford commissioned from the Boston Consulting Group. Ford's automotive revenue was $143.6 billion in 2019.
Ford shares, which have a market value of $24.5 billion, closed Tuesday at $6.15, down 2.1%. Shares are down 33.9% since the beginning of the year.Ford must add enough new technology to the pickup without alienating its traditional truck buyers, who are among the most loyal and passionate consumers in the automotive industry. It's something Ford is aware of and has accomplished with the new F-150, according to Galhotra.
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