Four new Ford SUV nameplates
SUVs and their crossover cousins are a big market right now. Anywhere you look, you’re bound to see more SUVs than ever before, and Ford models such as the Explorer and Escape are certainly among them. With the market for these vehicles not showing any signs of shrinking, the company announced that four new Ford SUV nameplates will be released in the next four years in segments where the automaker does not currently compete. What are the driving forces behind this decision? A lot of it has to do with the aging of two different generations. Read on for more details.
New Ford SUVs
“As members of the 80-million-strong millennial age group enter their prime child-rearing years, a leading indicator of more SUV sales, nearly 80 million aging baby boomers continue to prefer their SUVs. It’s a demographic double whammy and it all points to one thing – more SUVs for the foreseeable future.”
– Mark LaNeve, Ford Motor Company Vice President of Marketing, Sales and Service.
Recent Ford research indicates that once millennials begin to think about starting a family, they are already shopping around for SUVs. The growth opportunity exists for Ford SUVs even if those families haven’t actually been started yet.
Aging baby boomers are also a key demographic for SUVs. It is easier to get in and out of an SUV because it sits higher off the ground than a typical sedan. SUV drivers also tend to feel younger and more active when behind the wheel. Quite simply, SUVs are fun to drive!
Ford has not yet said which nameplates will be added, however, speculation exists that the old Ford Bronco may make a comeback, as has been rumored for several years now. They may also bring a new crossover model to the lineup, which makes sense given the current popularity of those “best of both worlds” automobiles. Stay tuned to the Houston Ford blog for updates about these new SUVs as they become available!