Market Overview

Ford's Latest F-150 Pickup Debuts Thursday With Sleeper Seat, Optional Onboard Generator

Ford's Latest F-150 Pickup Debuts Thursday With Sleeper Seat, Optional Onboard Generator

Ford Motor Company (NYSE: F) will unveil the latest version of its best selling F-150 pickup truck this week with features such as an onboard generator and a reclining seat.

What Happened

Ford’s vice president of U.S. marketing, sales and service Mark LaNeve said that the newest F-150 would “set a new bar in terms of capability, torque, payload, towing that [Ford's] truck customers need,” reported Fox Business 

LaNeve also announced a hybrid version with an onboard generator that can power a work site or a home "for a short period of time.”

The Ford executive confirmed the presence of a sleeper seat, saying, “Our truck customers work hard for a living. You've got to take a little siesta in the middle of the day ... and you can lay flat.”

The automaker posted a teaser of its latest truck on Twitter on Tuesday ahead of the scheduled reveal Thursday.

Why It Matters

The F-150 has been the best-selling vehicle in the United States since 1981, and the company sold 900,000 F-series trucks in 2019.

The truck to be released Thursday is the 14th generation of the F-150. The last major redesign was carried out in 2014 and further updated in 2017, notes Business Insider.

Competitors of the truck include General Motors Company’s (NYSE: GM) Chevy Silverado and GMC Sierra as well as Fiat Chrysler Automobiles NV’s (NYSE: FCAU) RAM 1500. 

According to LaNeve, Ford will offer a battery-electric truck within two years.

The F-150’s popularity can be gauged by the fact that Trevor Milton, founder of Nikola Corporation (NASDAQ: NKLA), wants to snatch its crown and emerge as a frontrunner. 

Tesla Inc (NASDAQ: TSLA) is also jumping on the truck bandwagon and expects to launch its Cybertruck in 2021 or 2022. The automaker expects 650,000 preorders.

Price Action

On Tuesday, Ford shares closed 2.07% lower at $6.15.

Image by Ford


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