Ford delaying Bronco SUV to summertime 2021 due to Covid-associated concerns

Ford delaying Bronco SUV to summer 2021 due to Covid-related issues

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2021 Ford Bronco

Source: Ford

DETROIT – Ford Motor is postponing the launch of its upcoming Bronco SUV from spring to summertime of next year due to coronavirus-related issues in its supply chain, the business informed its dealerships Friday afternoon.

Customers who had actually booked lorries were anticipated to start the purchasing procedure Monday. That has actually now been postponed till mid-January, Ford spokesperson Jiyan Cadiz informed CNBC.

“We are committed to building Broncos with the quality our customers expect and deserve,” he stated, decreasing to talk about particular issues with its supply chain.

Ford shares fell on the news, however closed Friday at $9.34, up 1.4%. During after-hours trading, the stock, which has a market price of $36.5 billion, was down less than 1%.

The post ponement of the Bronco is an unpleasant indication for Ford — and possibly the U.S. vehicle market, if issues with providers reappear due to increasing coronavirus cases. In the U.S., a seven-day average of brand-new day-to-day Covid cases stands at its greatest level yet, since Thursday, according to a CNBC analysis of Johns Hopkins University information.

In the spring, as the infection quickly spread out throughout North America, car manufacturers needed to postpone numerous items by months, if not a year, due to provider issues or to save capital. They likewise closed down domestic factories for about 2 months.

The 2021 Bronco is among the most extremely expected lorries from Ford in years. The Bronco would contribute almost $1 billion to Ford’s North American pretax revenues if sales reached 125,000 systems, according to Credit Suisse.

The business has actually stated more than 150,000 individuals have actually put bookings for the automobile, which the business formerly produced from 1965 till 1996.

As part of the hold-up, consumers will now have till March 19 to position their order and accept a last cost, Cadiz stated. Also, an extremely expected “Sasquatch package” with handbook transmission has actually been pressed back to the 2022 design year.

Supplier issues have actually not affected the Bronco Sport, an automobile presently showing up in dealers that belongs to Ford’s brand-new “Bronco family” of lorries. Consider it a cousin of the Bronco. The Bronco is based upon a truck platform while the smaller sized Bronco Sport features less effective four-cylinder engines and is based upon a cars and truck or crossover structure for a smoother trip.

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