Ford CEO says company is focusing on making vehicles more affordable
Ford CEO Jim Farley says the company is prioritizing affordability in its vehicle lineup amid rising car prices and economic pressures. He emphasized that many Americans struggle to afford new cars, which now average nearly $50,000. Ford plans to offer more models priced at $40,000 or less and is introducing promotions like employee pricing and low-cost leases.
- ▪Ford CEO Jim Farley stated that making vehicles more affordable is a priority for both Ford and the auto industry.
- ▪The average price of a new car is nearly $50,000, according to Kelley Blue Book, a 30% increase since 2019.
- ▪Farley said Ford will offer more affordable versions of popular models like the F-150 and Explorer, with pricing around $40,000 or less.
- ▪Ford is launching a promotion offering employee pricing on nearly all new vehicles through July 4.
- ▪The company is also introducing lease options ranging from $399 to $499 per month.
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Exclusive CBS Evening News Ford CEO Jim Farley says company is focusing on making its vehicles more affordable .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-evening-news.jpg'); } By Kris Van Cleave, Kris Van Cleave Kris Van Cleave Emmy Award-winning journalist Kris Van Cleave is the senior transportation correspondent for CBS News based in Phoenix, Arizona, where he also serves as a national correspondent reporting for all CBS News broadcasts and platforms. Read Full Bio Kris Van Cleave, Faris Tanyos Faris Tanyos News Editor Faris Tanyos is a news editor for CBSNews.com, where he writes and edits stories and tracks breaking news. He previously worked as a digital news producer at several local news stations up and down the West Coast.
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