The pressure is on. If the 2021 Ford F-150 flops, the entire company could go down with it. Or Ford could lose their spot as the number one truck manufacturer. Imagine, getting beat by the Ram 1500 or Chevy Silverado after decades of remaining on top. So, will the new Ford F-150 carry on the award-winning tradition?
Is the 2021 Ford F-150 A Good Truck?
Maybe. We will see the 2021 Ford F-150 tonight during its debut event. You can watch it here at 8 PM EDT. This reveal is a crucial moment for Ford because the F-150 needs to be profitable to offset debt brought on by the Coronavirus (COVID-19) outbreak.
The new Ford F-150 also needs to prove that Ford can stay in the number one spot as rivals such as Telsa, Rivian, and Lordstown release their all-electric pickups. Lordstown Motors is even trying to jump ahead by releasing the Endurance EV pickup today at noon, hours before we will see what Ford is rolling out.
The New Ford Electric Truck
In response to these new rivals, Ford is releasing hybrid versions and all-electric versions along with their traditional gas combustion engines. Their new F-Series trucks are rumored to have new and advanced tech included as well.
As the best selling truck for 43 years, Ford isn’t ready to fall behind competitors yet. Ford wants to continue as a leader for rivals to follow. Tonight, we will see the traditional release, and the release of the hybrid 2021 Ford F-150 and an electric version is expected to emerge within the next two years.
Ford is Struggling
In 2019, the Ford F-150 and larger trucks accounted for 37% of the 2.7 million vehicles Ford sold last year in the U.S. This was a 10% increase from the amount sold in 2010. So, it sounds like everything is going well.
However, COVID-19 caused Ford to rack up a hefty $20 million in debt, so they need the 2021 F-150 to sell really well. It’s part of their restructuring plan that includes $11 million to pay off their debt.
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Plus, the stock market is skeptical of Ford’s ability to turn things around. Since Jim Hacket started leading Ford as the CEO and President in 2017, their stock price has been cut in half. Their credit rating has also been downgraded to ‘junk.’
Nearly 900k F-Series trucks sold in the U.S. last year, generating nearly $42 million in revenue, helping Ford reach about $143.6 billion in 2019. Despite these earnings, Ford is still losing profitability. Their shares, which have a market value of $24.5 billion, closed at $6.15 on Tuesday, which was down by 2.1%. Ford is also down by 33.9% so far this year.
We can’t wait to see what the 2021 Ford F-150 has in store for us tonight. We expect a new, more confident face, have heard rumors of it coming with a generator, a new sleeper seat, an all-new and improved interior, and much more.