Ford Needs the New Bronco to Be a Hit More Than You Think
The new Ford Bronco is finally here, in all its shining glory. Ford recently unveiled the entire Bronco family and, while you won’t see any on the roads just yet, they’re available for preorder. Ford is offering the Bronco in three models: a two-door SUV, a four-door SUV, and a smaller Sport model. They’re also available in seven trim levels with more than 200 available customizations to personalize it to your specifications. Sound like fun? We think so — and Ford is hoping so too.
Ford is putting a ton of money into the new family of Broncos — so much so that they’re basing a good chunk of the company’s planned $11 billion restructuring plan on the relaunch of the Bronco. Will it be as successful as they hope? Let’s take a look.
Ford is planning an $11 billion infrastructure update
Ford first announced that the company had a plan in the works to restructure from top to bottom back in July of 2018. Since then, it doesn’t seem like much of anything has been done toward that goal. Sales have been down in both 2018 and 2019. They changed CEOs shortly after announcing the planned restructure. So what are they waiting for?
The answer, it seems, is excitement — and the Bronco is here to provide it. With Ford’s declining fourth-quarter sales each year, the company needed a new card to play. The Bronco is meant to be just that. Ford is expecting the relaunch of the Bronco to be such a big hit that it will supply a good chunk of the funds needed for their $11 billion restructuring plans. They’re putting the Bronco name on multiple vehicles to increase its popularity and keep people — especially people new to the brand — coming back for more.
The new 2021 Bronco is “Built Wild” — is that enough?
Ford’s past few years have been tough, and 2020 has been no exception. They had a rocky launch with Ford Explorers, issues with transmissions, and less-than-impressive sales numbers. The one thing that’s been expected to turn things around for the automaker is the launch of their new vehicles. In addition to the Bronco lineup, Ford will also be introducing the new F-150 and the new Mustang Mach-E this year.
Sales for the new Bronco will automatically be considered a net-add to Ford’s volume and portfolio because it didn’t exist in years prior. That’s a good sign for their overall sales, likely increasing their bottom line, but they still need people to buy them. The slogan for the new Bronco is “Built Wild,” a play on Ford’s “Built Ford Tough.”
With the slogan, they’re hoping to lure customers new to the brand from other outdoorsy manufacturers like Jeep. The Jeep Wrangler will likely be the Bronco’s biggest competitor, and Jeep loyalists will take some convincing to try out a Ford.
Ford needs the Bronco relaunch to be successful
Ford is placing a large focus on the Bronco’s customization options. It’s expected to be their most personalized vehicle yet, with over 200 accessories available to customers. It’s just one of the ways they’re trying to coax people over to the Ford side.
Since they announced the restructuring plan in 2018, Ford has spent about $3.7 billion of the projected $11 billion needed. Without the anticipated high sales numbers from the Bronco lineup, Ford would be hard-pressed to find the money necessary to finish their restructuring anytime soon. And while the Bronco has always had a sort of cult following behind it, time will tell if customers are willing to buy as many as Ford needs them to.