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FORD MOTOR COMPANY

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Ford Motor : BRONCO IS BACK! PRODUCTION KICKS OFF AT REVAMPED, UPGRADED MICHIGAN ASSEMBLY PLANT; SHIPMENTS BEGIN

06/18/2021 | 09:41am EDT

WAYNE, Mich.- The Bronco is back and ready for adventure. After 25 years, the Built Wild and always 4x4 SUV is rolling off the line at the Michigan Assembly Plant, which underwent a $750 million upgrade and added 2,700 jobs to get the job done.

* Production of the all-new 2021 Ford Bronco is underway at the Michigan Assembly Plant; the two-door and first ever four-door models are now on their way to Ford dealerships across America

* Ford has invested $750 million and added approximately 2,700 direct jobs at the Michigan Assembly Plant to build the sixth-generation Bronco

* A 1.7 million square foot Modification Center, adjacent to Michigan Assembly Plant, will offer Bronco two- and four-door model customizations including safari bar, roof racks, exterior graphic packages and additional accessories as more are added to the catalog

* Watch the Bronco Celebration, available beginning today at 10 a.m. EDT, for an immersive Bronco launch experience

The all-new two-door and first-ever four-door Bronco models are now on the way to Ford dealerships nationwide.

Outdoor enthusiasts are more than ready. More than 125,000 Broncos orders have been placed, with a total of more than 190,000 reservations in the U.S. and Canada to date, plus Bronco Nation debates are already fiery and Bronco Roadeo off-road adventure playgrounds are ready to roll.

'We know the fans have been waiting for the Bronco - and we're so excited to bring it back,' said Suzy Deering, Ford chief marketing officer. 'And this Bronco is better than ever. We're staying authentic to Bronco's goes-over-any-terrain heritage and have leveraged the brand's Built Wild innovative design, durability and advanced off-road capability to get the most out of every adventure in the wild.'

As the flagship and icon of the Bronco brand, Ford's new outdoor brand of Built Wild and only 4x4 vehicles, the all-new 2021 Ford Bronco is ready for adventure. Built with rugged durability, this vehicle has the confidence to go over any-type of terrain (G.O.A.T). Several different models are available and are designed around different types of adventure, with the base model starting at $29,995.

In 1965, the Michigan Truck Plant - now the Michigan Assembly Plant - began production of a fun and versatile off-road SUV: the original Ford Bronco. Bronco continued through five generations and ended production on June 12, 1996. In that 31-year span, Ford produced more than 1.1 million Broncos.

Now the Ford Bronco is back home rolling off the line at Michigan Assembly Plant. The all-new sixth-generation 2021 Bronco two-door and first-ever Bronco four-door model are being shipped to dealers and then to customers who started their journey with a reservation last summer.

'We have the most skilled workforce in America working in a plant that's state-of-the-art,' said John Savona, vice president, manufacturing and labor affairs. 'It's an unbeatable combination designed to deliver our customers a high-quality, ready-for-anything, all-new Bronco.'

Ford's UAW partners agree - and are proud be part of the historic launch.

'Once again UAW members are excited to build one of the most iconic vehicles in automotive history as the full-size Ford Bronco launches production,' said Gerald Kariem, UAW vice president and director of the Ford department. 'This American automotive staple is crafted right here in Michigan by UAW members and will continue the innovative nameplate with quality and pride. UAW members are proud to launch this long awaited re-birth applying new technology and utility to one of the most innovative brands in Ford's storied history.'

Ford is committed to building in America and assembles more vehicles in the United States than any other automaker. The largest employer of U.S. hourly autoworkers, Ford has added approximately 2,700 jobs at Michigan Assembly Plant to build as many vehicles as possible, bringing total employment to approximately 4,900 people.

The Modification Center is a 1.7 million square foot facility - formally the Wayne Assembly Plant - right next door to Michigan Assembly Plant. Bronco customers will be able to opt into modifications including roof racks, a front bumper safari bar and exterior graphic packages, just to name a few, which will be factory-installed at the Modification Center.

Bronco owners can also choose from an extensive lineup of more than 200 factory-backed accessories added at the dealership for maximum personalization. The modular design of the Bronco allows for a vehicle as unique as each customer.

For an immersive behind-the-scenes Bronco launch experience, watch the Bronco Celebration, available beginning today at 10 a.m. EDT. National Public Radio correspondent Sonari Glinton, host of the Bring Back Bronco podcast, interviews various Ford team members involved in the Bronco launch as well as Bronco reservation holders in the new Modification Center.

About Ford Motor Company

Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan. The company designs, manufactures, markets and services a full line of Ford trucks, utility vehicles, and cars - increasingly including electrified versions - and Lincoln luxury vehicles; provides financial services through Ford Motor Credit Company; and is pursuing leadership positions in electrification; mobility solutions, including self-driving services; and connected vehicle services. Ford employs approximately 186,000 people worldwide. For more information regarding Ford, its products and Ford Motor Credit Company, please visit corporate.ford.com.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 132 B - -
Net income 2021 5 082 M - -
Net cash 2021 6 246 M - -
P/E ratio 2021 11,2x
Yield 2021 0,12%
Capitalization 53 210 M 53 210 M -
EV / Sales 2021 0,36x
EV / Sales 2022 0,26x
Nbr of Employees 186 000
Free-Float 98,0%
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 14,02 $
Average target price 16,14 $
Spread / Average Target 15,1%
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Managers and Directors
James D. Farley President, Chief Executive Officer & Director
John T. Lawler Chief Financial Officer & Vice President
William Clay Ford Executive Chairman
Hau Thai-Tang Chief Operations & Product Platform Officer
Beth A. Rose Chief Compliance, Ethics & Integrity Officer
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