Martin Aguilar / Ford | February 11, 2016 18:00
Ford to beef up its global lineup with four new SUVs
Ford announced plans to introduce four new sport utility vehicles (SUVs) to its global lineup in the next four years.
The American automaker said that the new SUVs are intended to slot into segments where Ford does not currently compete.
Ford's plan to add four SUVs in the next 48 months can be linked to the strong sales of SUVs that is expected to maintain its momentum due to the vast number of Millennials (born from early 1980s to early 2000s) and Baby Boomers (1946 to 1964).
“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.
LaNeve cited Ford's recent research that shows once Millenials begin thinking about starting a family, their interest in shopping for SUVs goes up significantly.
Ford also expects the aging Baby Boomers who have been buying SUVs will be looking to stay with or return to the said type of vehicle. LaVene noted that older customers find it easier to get in and out of a vehicle that sits higher off the ground.
In addition, Ford predicts that SUVs will still have a positive sales performance even if fuel prices goes up.
The automaker has yet to provide specifics regarding its new SUVs but previous reports suggest that the Bronco might be one of Ford's upcoming SUV. As previously reported, Ford filed a trademark application for the Bronco last February 2015 which could suggest that it might make a comeback.
If the Bronco does make a comeback, it will enable Ford to compete alongside Jeep which makes rugged midsize off-roaders. Of note, the production of the Ford Bronco ceased in 1996.