Ford Motor is delaying the launch of its upcoming Bronco SUV from spring to summer next year due to coronavirus-related problems in its sales, the company told its retailers on Friday afternoon.
Customers who had been reserved for cars are expected to start the order process on Monday. That is now delayed until mid-January, Ford spokesman Jiyan Cadiz told CNBC.
Ford’s Statement And The Reaction
“We are committed to building Broncos with the quality our customers expect and deserve,” he said, declining to discuss any issues related with logistics and supply chain management.
Ford shares fell in the news, but closed on Friday at $ 9.34, up 1.4%. At the time of trading after hours, the stock, with a market value of $ 36.5 billion, was down below 1%.
Bronco SUV’s Delay
Bronco’s postponement is a worrying sign for Ford – and possibly a U.S. automotive industry, if supplier problems reappear due to growing coronavirus cases. In the U.S., an average of seven days of new Covid cases each day is at its highest level, as of Thursday, according to a CNBC analysis of Johns Hopkins University data.
In the spring, as the virus spread rapidly in North America, car manufacturers had to delay several products for months, if not a year, because of supply problems or savings. They also shut down local factories for about two months.
Ford Bronco 2021
The 2021 Bronco is one of the most anticipated cars from Ford over the years. Bronco would have donated about $ 1 billion in revenue from Ford North America if sales reached 125,000 units, according to Credit Suisse.
The company said more than 150,000 people had booked a car reservation, a company that had previously produced from 1965 to 1996.
As part of the delay, customers will now have March 19 to place their order and agree on a final price, Cadiz said. Also, the much-anticipated “Sasquatch package” with manual transmission is set back in 2022.
Supplier problems did not affect Bronco Sport, a car currently arriving at retailers that is part of the new Ford “Bronco” family. Consider the Bronco cousin. The Bronco is based on the truck platform and the small Bronco Sport comes with four-cylinder power engines and is removed from the car or crossover building for smooth operation.
Synopsis
Ford is delaying the launch of its upcoming Bronco SUV from spring to summer next year due to coronavirus-related problems in its sales.
Customer parking orders are expected to begin on Monday. They are now delayed until mid-January.
The 2021 Bronco is one of the most anticipated cars from Ford over the years.
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