Ford Motor Co. (NYSE:F) CEO Jim Farley says making vehicles more affordable must become a priority for the auto industry, arguing that Ford is already preparing lower-priced models as new-car costs strain U.S. households.
Farley Says Ford Must Lower Prices
In a CBS News interview on Friday, Farley was asked whether Americans can afford new cars today. “Some Americans can,” he said. “But we need to do a great job as a brand and as an industry to make our vehicles more affordable. I think you’re certainly going to see that at Ford over the next couple of years.”
Farley said Ford wants to offer more new models at about $40,000 or less. “Most of our new models are going to be more affordable versions,” he said, adding that Ford will offer more choices, “around $40,000, less than $40,000.” He said the challenge is building them in America while …
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