Ford Bronco’s reserves far exceed expectations, executives say

The new Ford Bronco SUV is already exceeding the company’s expectations before hitting dealership showrooms next year.

More than 150,000 bookings have been made for the next two- or four-door SUV, far exceeding Ford Motor’s initial expectations, according to executives.

“That exceeds our optimistic expectations,” Ford CFO Tim Stone told reporters Thursday when discussing the company’s second-quarter earnings. “As a result, we are working very hard right now to increase our annual production.”

Those reservations are for Bronco two and four door models. They exclude a smaller, more tame vehicle called the Bronco Sport that is built more like a car than a truck.

Ford introduced the new Bronco and Bronco Sport on July 13 with great fanfare. The nameplate developed a strong fan base after the original two-door SUV was discontinued in 1996.

A limited Bronco “First Edition” model, starting at $ 60,800, sold out quickly after the vehicle’s unveiling. The company doubled the model’s availability to 7,000 units. All have been reserved, Ford said.

“Bronco’s reception has been very positive,” Ford chief operating officer Jim Farley told investors, saying the overall bookings “far exceeded” expectations.

Farley said the vehicle mix, which starts at $ 30,000 to $ 60,000, “is excellent.” Ford declined to provide a breakdown.

Kumar Galhotra, Ford president of the Americas & International Markets Group, said the company projects that it will sell hundreds of thousands of new Bronco SUVs a year.

Ford is taking $ 100 refundable deposits as part of the reservation process.

Bronco Sport is expected to start hitting dealerships later this year, followed by Bronco next spring.

The Bronco Sport will be produced at the automaker’s factory in Hermosillo Sonora, Mexico. The Bronco will be produced at a plant in Michigan.