Ford CEO Jim Farley says company is focusing on making its vehicles more affordable
CBS News • • business
Key Points:
- Ford CEO Jim Farley emphasized the need for the auto industry to prioritize making vehicles more affordable, acknowledging that while some Americans can afford current prices, many cannot.
- The average price of a new car has risen to nearly $50,000, a 30% increase since 2019, compounded by higher fuel costs impacting consumers.
- Ford aims to introduce more affordable models priced at $40,000 or less, focusing on offering greater choice while manufacturing vehicles in the U.S. using affordable parts globally.
- To address price concerns, Ford is offering nearly all new vehicles at employee pricing through July 4, along with lease deals ranging from $399 to $499 and more affordable versions of popular models like the F-150 and Explorer.
