Ford Motor Company (NYSE:F) has announced a new Bronco SUV member, the Raptor, to be released later this year and starting at $70,000. The automotive giant is also aiming at complying with 100,000 current model orders including the F-150 pickup truck.
Q4 2021 hedge fund letters, conferences and more
Ford's New Release
As reported by CNN Business, Ford has set sights on its Jeep Wrangler rival and announced the Bronco Raptor. The off-road vehicle —to be released later this year— sports a taller suspension, bigger tires, and more power than the basic Bronco model, which allows it to swift through sand dunes at "highway speeds," according to the company itself.
The turbocharged, 3-liter, V6 engine delivers 400 horsepower coupled with a 10-speed automatic transmission exclusively —equipped with paddles on the wheel for gear shifting.
In a release, CEO Jim Farley said “We poured all of our passion and all of our Bronco and Raptor know-how into creating this absolute desert-racing beast.”
CNBC reports that Ford “uses the Raptor name for performance, high-speed off-road variations of its popular F-150 pickup in North America and a Ranger midsize pickup in global markets. The name has a fan following, which Ford will try and replicate with Bronco owners.”
Commercial Strategy
During a media event, Derek Bier, Ford performance vehicle engineering manager, said “This is truly not only a Bronco, but it has earned the Raptor badge,” while Paul Wraith, Bronco design chief sanctioned, “It’s a very, very high-performance vehicle. This is a hungry beast. It needs cooling.”
By 2023, Ford is said to be spending more on electric vehicles than on those equipped with combustion engines, while this year the company reached a record market capitalization of $100 billion.
In an attempt to increase profit and lure consumers to their brands —before switching to fully electric lineups— car manufacturers have been adding performance models to their catalogs.
General Motors Company (NYSE:GM) just recently revealed the Cadillac Escalade, a high-powered gasoline model as the Cadillac brand is expected to lead the company’s transition toward electric vehicles.
Ford is part of the Entrepreneur Index, which tracks 60 of the largest publicly traded companies managed by their founders or their founders' families.
