DETROIT — The new products are just the beginning.
Ford Motor Co. has shaken up its vehicle lineup in recent years, cutting slow-selling models and investing heavily in its well-known Mustang and Bronco subbrands, in a bid to increase profits while boasting the industry’s freshest showroom.
Executives plan to continue adding exciting products and constantly update what’s already in showrooms. But now the company is going further.
CEO Jim Farley laid out his strategy, dubbed Ford+, at an investor presentation this year. It involves connected technology and experiences that will lead to what he calls an “always-on” relationship with buyers aimed at keeping them in the Ford fold.
“Great products alone are not sufficient, though, to deliver Ford+,” Farley said on the company’s second-quarter earnings call. “ ’Always-on’ means we are regularly interacting with our customers on things large and small, and we’re building new capabilities like connected services to enrich the customer experience and drive recurring revenue streams.”
That strategy is visible on the Mustang Mach-E electric crossover and redesigned F-150 pickup.
They were the first Fords to offer over-the-air-update capabilities, which Ford plans to implement more widely.
Farley said the data coming back from those vehicles has led to $50 million in efficiencies from “warranty-cost avoidance and other opportunities.”
The company expects to have 33 million over-the-air-update-capable vehicles on the road globally by 2028. One round of updates Ford soon will push out, the BlueCruise hands-free driver-assist system, known as ActiveGlide on Lincolns, will expand in the coming months and years.
“We’re committed to delivering a richer experience for our Ford and Lincoln customers,” Farley said. “One that improves over time with things like our over-the-air software upgrades, data-driven experiences, productivity and uptime services for our critical commercial customers, charging software and a lot more.”