Ford is intensifying its focus on the aftermarket sector by expanding its range of accessories and customization options, which it views as a significant growth opportunity. The company plans to introduce exclusive vehicle models akin to 'Nike shoe drops' to attract customers.
Matt Simpson, executive director of Ford Customization, highlighted the launch of the limited-edition Bronco SUV as part of this initiative, priced at $57,350 with a $13,695 customization package. Ford aims to grow its $15 billion high-margin software and services revenue by 8% annually through the end of the decade, leveraging the trend of vehicle customization among buyers.
Currently, 46% of new vehicle buyers in the U.S. customize their vehicles, with Bronco and Mustang owners leading in this trend. Ford's strategy includes integrating customizations into new vehicle warranties and allowing buyers to finance these options as part of their vehicle payments, which could enhance customer loyalty and profitability despite broader market challenges