Ford Motor Company (NYSE:F) is counting on its recently launched Bronco to beat competition from other sporty cars like Jeep Wrangler. The automaker benched several features from the Jeep Wrangler. In July, Ford announced that it received over 150,000 reservations for the SUV, which had been launched a few weeks ago on July 13. Before launching the new vehicle, the company undertook market study to determine the right features and the capability that customers were looking for in the new vehicle.
The battle between Bronco and Jeep Wrangler
The launch of Bronco ignited stiff competition with Jeep Wrangler, which had been there before. Jeep has been forced to adjust to the new changes in the market. The company has already announced that the Jeep Wrangler will now be fitted with a more powerful gas engine to boost its capacity. Like the Bronco, chances are high that the Wrangler will convert to independent from suspension.
It is not the only Jeep that facing a stiff rivalry from then Bronco. Land Rover is also feeling the heat, especially with its new Defender. Both Defender and Bronco have some resembling features. They both convert enthusiasm for six-figure vintage off-roaders into a profitable modern SUV.
The Bronco has impressed the market
Industry analysts and reviews have been impressed by the Bronco thanks to features that allow owners to remove doors easily and the roof. This feature is also available on many Wranglers. Auto industry analysts are, however, pessimistic on the number of vehicles that Ford can sell. Many analysts project that demand will fall sharply in the first and second years.
However, the company is very optimistic with its executives saying they expect to sell thousands of Broncos every year. According to the company, the new vehicle is likely to become the top-selling in the US.
Ford has appointed Jim Farley to replace the outgoing CEO, Jim Hackett. From the company’s history, Farley is known for being fun of powerful cars. This is evidenced by the Ford GT40 race car and the Shelby Cobra that he has owned for several years. He has served in several leadership roles at Ford for more than a decade. In addition, he served at Toyota Motor Corp (NYSE: TM) for 17 years.