With automakers announcing their plans to release new models left and right, two brands will be leading the pack in car debuts within the next few years – Ford and Honda.
According to an annual report from Bank of America Merrill Lynch, there is an average of 40 new model launches each year from 2000 to 2019. But for the years 2020 to 2023, this number is expected to jump to 62 model launches per year.
Ford is likely to see a $2 billion profit just on the two vehicles it is developing – the Ranger that was launched in late 2018 and the yet-to-be-released Bronco.
Analysts say this increase in volume can be a positive for the industry. Senior auto analyst John Murphy shared, “This really should be a great thing for Ford and stabilize what’s been sort of an unstable business, at least what’s been perceived to be an unstable business, the past few years since Hackett has taken over.”
Ford’s upcoming releases will be bannered by the 2020 Explorer and Escape, followed by the 2021 F-150 and Bronco. General Motors is also expected to introduce its heavy-duty pickups for the 2020 model year and large SUVs for 2021. This excludes Cadillac’s plans to launch a new vehicle every six months through 2021.
Fiat Chrysler Automobiles, meanwhile, will focus on Jeep, with Grand Cherokee and Grand Wagoneer for the year 2021, followed by the Cherokee and Wagoneer in 2022, and the Compass and Renegade for 2023.
There is also an expected surge in the production of crossovers to 149 models by 2023, making it the most crowded segment.
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