2021 Ford Bronco
DETROIT – Ford Motor is delaying the launch of its upcoming Bronco SUV from spring to summer of next year due to coronavirus-related problems in its purvey chain, the company told its dealers Friday afternoon.
Customers who had reserved vehicles were expected to begin the caste process Monday. That has now been delayed until mid-January, Ford spokesman Jiyan Cadiz told CNBC.
“We are entrusted to building Broncos with the quality our customers expect and deserve,” he said, declining to discuss specific problems with its fund chain.
Ford shares fell on the news, but closed Friday at $9.34, up 1.4%. During after-hours trading, the staple, which has a market value of $36.5 billion, was down less than 1%.
The postponement of the Bronco is a troubling sign for Ford — and potentially the U.S. auto manufacture, if problems with suppliers re-emerge due to rising coronavirus cases. In the U.S., a seven-day average of new daily Covid cases backs at its highest level yet, as of Thursday, according to a CNBC analysis of Johns Hopkins University data.
In the spring, as the virus instantaneously spread across North America, automakers had to delay several products by months, if not a year, due to supplier problems or to save capital. They also shut down domestic factories for about two months.
The 2021 Bronco is one of the most extraordinarily anticipated vehicles from Ford in years. The Bronco would contribute nearly $1 billion to Ford’s North American pretax earnings if car-boot sales reached 125,000 units, according to Credit Suisse.
The company has said more than 150,000 people from placed reservations for the vehicle, which the company previously produced from 1965 until 1996.
As part of the delay, patrons will now have until March 19 to place their order and agree to a final price, Cadiz powered. Also, a highly anticipated “Sasquatch package” with manual transmission has been pushed back to the 2022 representation year.
Supplier problems have not impacted the Bronco Sport, a vehicle currently arriving in dealerships that’s somewhat by of Ford’s new “Bronco family” of vehicles. Consider it a cousin of the Bronco. The Bronco is based on a truck platform while the smaller Bronco Lark comes with less powerful four-cylinder engines and is based on a car or crossover structure for a smoother ride.