SouthernWorldwide.com – Ford CEO Jim Farley has emphasized the critical need for the automotive industry to prioritize making vehicles more affordable, stating that his company is actively implementing strategies to achieve this goal.
When questioned about the current affordability of new cars for American consumers, Farley acknowledged that while some can manage the prices, there’s a broader challenge.
“But we need to do a great job as a brand, and as an industry, to make our vehicles more affordable,” he stated. “I think you’re certainly going to see that at Ford over the next couple of years.”
Data from Kelley Blue Book indicates that the average price of a new car has surged to nearly $50,000, representing a 30% increase since 2019. Consumers are also facing the impact of significantly higher fuel prices.
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Farley revealed that Ford aims to offer some of its upcoming models at price points of $40,000 or less.
“Most of our new models are going to be more affordable versions,” Farley explained. “We are going to offer more choice in those kind of price points, around $40,000, less than $40,000. The trick is to make them in America. And to do that we need, you know, affordable parts from around the world.”
He also highlighted a current promotion where Ford is offering nearly all its new vehicles at employee pricing through July 4th, recognizing that vehicle prices are a significant concern for many Americans.
“That is why we’re coming up with more affordable vehicles,” Farley reiterated. “And that’s why we’re offering employee pricing, and $399 to $499 leases, and why we have more affordable versions of the F-150, and Explorer, our most popular models.”
In response to a recent announcement by President Trump regarding a potential 25% tariff on European-made vehicles, Farley chose not to comment on specific trade policies. However, he redirected the focus towards addressing the rapidly expanding Chinese auto market, which is characterized by its emphasis on lower-priced vehicles compared to those typically imported from Europe.
