DETROIT (Reuters) – Ford Motor Co (FN) On Monday launched the product and marketing strategy for its new Bronco SUV family, designed to take a bite out of Fiat Chrysler cars (FCHA.MI) (FCAU.N) Profitable Jeep franchise.
In this computer-generated image, taken on July 2, 2020, a line of Ford Broncos 2021 is shown, along with the logo. Ford Motor Company / Brochure via REUTERS / Illustration
Ford’s Bronco line, to be launched later this month, will include two- and four-door models, as well as a smaller Bronco Sport. The vehicles’ square appearance, new bronze bronco logo, online “Bronco Nation” fan club along with the “Built Wild” marketing campaign are part of Ford’s plan to venture into the lucrative off-road adventure segment that Jeep has dominated for decades.
The new Bronco line will offer off-road technology aimed at people who want a comfortable ride on the road, and who ride off-road through sand, gravel or dirt, without climbing over rocks, Ford chief operating officer Jim Farley said in an interview. . .
“We see our vehicle differently than the Wrangler,” said the Jeep model favored by extreme off-road enthusiasts, Farley said. “We see it as a vehicle that you can live with every day.”
Bronco’s true mission is to boost profits as Ford struggles to pay off debt owed to resist the coronavirus slowdown. Last year, Ford said the remodeling of its Wayne, Michigan, assembly plant to build mid-size Ranger and Bronco trucks instead of hybrid and compact cars would improve operating profit by more than $ 1 billion.
Ford teaser images and spy photos from automotive magazines have hinted that the new Bronco will take styling cues from the first-generation Ford Broncos, built between 1966 and 1977, which were square two-door models that are now considered one of the first SUVs. Ford withdrew the Bronco line in 1996 amid falling demand for two-door SUVs.
While the FCA declined to comment on the Bronco, Chief Executive Mike Manley and his predecessor Sergio Marchionne invested heavily in the Jeep brand. The Jeep family includes six nameplates in North America, from the tiny Renegade to the Gladiator truck, with several additional models sold abroad and more on the way.
Jeep generates a large portion of FCA’s profits. Morgan Stanley analyst Adam Jonas three years ago estimated that the Jeep brand alone was worth 120% of the parent company’s market value, more than $ 20 billion at the time.
Last year, Fiat Chrysler sold around 1.5 million Jeeps globally, down from nearly 1.6 million in 2018. According to vendors, Ford’s aspirations are lower at 125,000 sales in the first year. Sales from the previous Bronco peaked in 1979 at around 100,000.
As part of the Bronco launch, Ford will create four off-road proving grounds in the United States next year, called “Off-Roadeos.”
Ford will introduce the four-wheel drive SUVs online at 8 p.m. ET on July 13, when customers can start depositing $ 100.
Reports by Ben Klayman and Joseph White; Editing by Chris Reese
.
