The recent display of the new GT 2017 by Ford Motor Company (NYSE:F) at Detroit Auto Show surely awed a lot of viewers. This new creation by the company makes use of 600 horsepower from its twin-turbocharged EcoBoost 3.5-liter V-6. However, this amazing vehicle comes at a very high cost.
Company’s performance division reported that this new beauty will cost about $400,000, which is almost four times more than the price buyers had expected. This high price tag brings this car in competition with other high end cars like Lamborghini Aventador.The company is planning to produce only limited units of the car, which is around 250 units, and will restart the production next year.
It is being estimated that this new car will help the company generate around $100 million. This figure is certainly not very impressive if compared with company’s earlier performances. Last year, Ford Motor Company (NYSE:F) made a revenue of $144 billion, which show what a strong position it holds in the market and is certainly capable of making its way more than what is expected. It would be a mistake to think that GT would not be very profitable for the company, as this supercar will certainly be earning a big amount with a limited production.
According to the Vice President of company’s Global Product Development division, Mr. Raj Nair, GT’s innovative technology will be adding more to the company’s portfolio than just merely making revenues. This supercar would raise the performance bar for the company and would improve the vehicle experience for its users in general. This futuristic design of this new car will surely be visible in the upcoming car lines of Ford Motor Company (NYSE:F).
The kind of technology that this new supercar entails, it seems that the company is targeting a very specific segment of the market that includes professional and enthusiast drivers. Once the car is popular amongst this class, it is expected that the effect will trickle down to regular consumers. This strategy will greatly help Ford Motor Company (NYSE:F) as it is planning to launch 12 more new vehicles by 2020.
Moreover the company has been lucky in terms of the launch of its new design. US have been experiencing an increase in the automobile sector and the sales in this field have been up by 70%. Europe has also seen an increase in the sales by 14% and it is being hoped that this industry will grow in the future.
One successful end that Ford Motor Company (NYSE:F) has been able to achieve after all this is that it was able to grab the attention of several young enthusiast drivers and thus was able to attract many consumers towards itself in the competition market. This was proved by Ford Motor Company’s (NYSE:F) recent performance in the Performance Vehicle buyer market. It was noticed that 65% of the Performance Vehicle buyers in US purchased Ford brand. It is expected that this figure will grow in the future.
