Ford eyes 'Nike shoe drop' moments, growing vehicle customization

Key Points:

• Ford Motor is expanding its accessory and parts business to better capture the $53 billion U.S. aftermarket industry by increasing investment in customization options and exclusive vehicle drops, likened to "Nike shoe drops."
• The company launched the Ford Custom Garage last year as a one-stop shop for vehicle customizations, unveiling limited-edition models like the Desert Rising Ford Bronco, with packages that can add thousands of dollars to vehicle prices.
• Ford aims to grow its $15 billion software and physical services revenue, including customization, by 8% annually through the end of the decade, capitalizing on high customer engagement with popular models such as the Bronco, Mustang, Maverick, and F-Series.
• Unlike traditional aftermarket modifications, Ford includes its customizations under new vehicle warranties and offers customers the option to finance these packages as part of their vehicle purchase or lease.
• The strategy addresses the increasing complexity of modern vehicles, which require specialized tools and expertise, and seeks to boost customer loyalty by encouraging more buyers to opt for and spend more on factory-backed accessories and performance upgrades.