Pickup truck sales accelerating

Allan Goodman
January 19, 2018

This was a big year for Detroit, as many new debuts and a lot of breaking news occurred.

"It's second in the world in terms of market share" among mid-sized trucks, said Hau Thai-Tang, Ford's head of product development.

Pickups are the most popular vehicles in the USA, and trucks unveiled at the show make clear that will continue for a while.

The most important announcements from the Detroit Auto Show were new pickup trucks from Ford, Chevy and Ram. There's no word yet on whether the US will get the Ranger Raptor performance model already teased for worldwide markets.

The company also offered clarity to Hackett's message to Wall Street in October that the company would reduce its number of models.

Ford Motor Co will more than double its planned investments in electric vehicles to $11 billion by 2022 and will have 40 hybrid and fully electric vehicle models in its lineup, chairman Bill Ford said on Sunday at the Detroit auto show.

Ford has upped its investment in electric cars after injecting an additional $11bn (£8bn) towards developing a new range of EVs and hybrids by 2022.

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"Our strategy in electrification has shifted. That will get us in the autonomous driving because it's fully electric", says JTekt's Tom Maher. "We're targeting high-margin segments".

Ironically, the Detroit automaker with the fewest electrified models on sale was the only one to bring hybridization to a new truck, in the form of its brand-new 2019 Ram 1500.

Federal tax legislation signed past year was referenced during the presentation with Farley and Bob Shanks, Ford executive vice president and chief financial officer, but there was no mention of employee bonuses.

Ram has managed to grow in the U.S. even with one of the oldest full-size pickups on the market, with sales up 40 percent since 2007, according to Autodata Corp.

By spending more on EVs, Ford hopes to help in the fight against climate change. Shanks noted that "90% of our cash" is already in the United States. "Also they're giving them verifiable increases in performance". Though, if we didn't tell you that, you may have never known it was all-new. The automaker did not say anything more about the vehicle.

For 2018, Ford expects adjusted earnings of $1.45 to $1.70 per share.

Ford made that decision, said Hinrichs, because small cars don't sell as well in the U.S.as they used to. The officials provided financial guidance for the next year, as well as preliminary 2017 results. CEO Mary Barra said the company is becoming more "focused, resilient and profitable", and expects an even better year in 2019.

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