Ford Motor introduced a new truck—and it isn’t an electric vehicle.
The car maker (ticker: F) opened ordering for its new F-150 Raptor R Monday, billing it as the “fastest, most powerful, most extreme high-performance off-road desert Raptor yet.”
The truck comes equipped with a 5.2 liter, turbocharged 700 horsepower engine that puts out 640 foot-pounds of torque. The engine also powers the Ford Mustang Shelby GT500, (Torque is what helps vehicles jump off the starting line quickly and tow big loads.)
Production is slated to begin in late 2022 at Ford’s Dearborn, Mich., truck plant.
The Ford F-series, which includes F-150 trucks, is arguably the company’s most important product. In the US, Ford sold about 726,000 F-series trucks in 2021 out of a total of 1.9 million units. Those figures include the eight F-150 trims: XL, XLT, Lariat, King Ranch, Platinum, Limited, Tremor, and Raptor.
How big of a seller the Raptor R will be unknown. The company doesn’t report Raptor sales and declined to comment on sales volumes.
Trucks are one of Ford’s highest margin products, according to benchmark analyst Mike Ward. That profit is critical to helping fund Ford’s lofty electric vehicle ambitions. Ford began sales of its electric F-150 Lightning in 2020 and wants to sell two million EVs a year around the world by 2026. That could amount to roughly 35% to 45% of all Ford sales.
Ford stock was up 2.6% in Monday afternoon trading. The S&P 500 and Dow Jones Industrial Average were up 0.8% and 0.5%, respectively.
Ford shares are up about 40% this year. Inflation and higher interest rates have hurt auto stocks. Automotive shares in the Russell 3000 index are down roughly 33% year to date on average.
Write to Al Root at [email protected]
Credit: www.marketwatch.com /