Ford Motor unveiled 2022 Ranger The midsize pickup truck—a warm-up for another big launch happening next year, and a reminder that internal-combustion vehicles still count for some of the old line’s carmakers.
The mid-sized Ranger is comparable in size to Rivian Automotive’s (ticker: RIVN) R1T trucks, but is receiving less media attention because it is not electric.
Ford (F), of course, isn’t ignoring the electric-truck trend. It’s diving headlong, spending billions on development and assembly capacity, targeting annual sales of about 600,000 EVs by 2023. Customers can buy an electric Mustang today. And an electric F-150 pickup will ship in 2022.
The electric F-150 launch could be the most significant EV launch in history. The Tesla (TSLA) Model S and Model 3 debuts were also big events, but the F-150 has been a bestselling vehicle in America for nearly 40 years.
The extent to which people buy electric F-150s will go a long way in telling investors how fast and how far EVs will reach new car sales in the US. In 2020, about 3% of new cars sold in the US were either all-electric or plug-in hybrids, compared to some 12% in Europe.
Still, the Ranger launch is a significant event for Ford, and could matter more than the F-150 in terms of earnings in 2022. through october, Ford sold around 80,000 Rangers in 2021, which is about 4% less than in 2021. The updated truck should increase sales.
The latest model will include features like LED lights, power outlet in the pickup bed, a tailgate workbench and an improved powertrain.
Ford also highlighted the connectivity features available on a new Ranger. That technology can alert drivers of required service and allow users to remotely manage the temperature inside a vehicle via an app, among many other things. Imagine going from the breakfast table to an already hot car on a winter morning. Management plans to spread connectivity technology across Ford’s vehicle portfolio.
Shares were in the green on Wednesday, although it is difficult to say whether Ranger is responsible. The stock was up about 0.5% in afternoon trading, while the S&P 500 was flat. The Dow Jones Industrial Average was down about 0.2%.
Investors can buy Ford stock whenever they want. US consumers will have to wait to buy the 2022 Ranger. a US date of sale It was not disclosed on Wednesday.
Write to Al Root at [email protected]