Ford Motor Company’s (NYSE:F) Ford Explorer overshadows the L.A Auto show- theme of the show is luxury vehicles:
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The Auto show that is supposed to take place this week at Los Angeles will cater to all the luxury cars like the Mercedes-Maybach, Porsche Panamera Exclusive and Audi R8 as well as the next-generation Ford Explorer SUV. The Explorer is the only family friendly SUV in the list and it is expected to give a tough competition to all the other chic cars. The Explorer has given a new meaning to the rest of the SUV’s in the market since the time it was first launched in 1990.
Ford Motor Company (NYSE:F) sold as many as 445,000 Explorers in 2000 which was its highest point. Explorer was so popular at the time that it made Ford Motor Company (NYSE:F) overlook its other line of cars like Taurus. Taurus transferred to a status of being a rental car. However, the increasing prices of gas made the SUV’s less attractive to the consumers and car-based crossovers became their choice which was made by Japanese competitors.
The sales of Explorer declined to 52,000 by the year 2009 which made Ford to work on the Explorer and reinvent it in 2010. The reinvention helped boost the sales up to about 9% through October 2014.
Customers want more cost friendly vehicles and it is expected that the Explorer will not only focus on the technology but will also continue to work on the fuel economy to meet the customer’s demand.
Stephanie Brinley, an analyst with IHS Automotive said that since Explorer is the profit operator for the company therefore Ford needs to keep the Explorer up-to-date. She also said that with the upcoming all-new midsize edge expedition, Ford Motor Company (NYSE:F) needs to keep the Explorer crisp and relevant to the event. Explorer has the potential of making money for the company.
Brendan Flynn, a spokesperson from the L.A even said that Ford is amongst the 33 vehicles that are making a worldwide premier at the show. The number of automobiles increases to 60 if North American debuts are added to it. Around 4,000 media personalities from around the globe are expected to travel to L.A to cover the event which is supposed to start on Wednesday. However, it will be open to public on Friday.
This year the L.A show has accentuated green vehicles. Keeping that in mind the Green car of the year will be declared on Thursday. Fuel- efficient cars have gained popularity by the day and almost all auto shows prefer displaying fuel-friendly cars or electric vehicles.
Since the theme of this year’s auto shoe in L.A is luxury cars, therefore the life of the show will be cars which are more flashy and fast. Mercedes-Maybach S 600, BMW, Audi, Porsche, Jaguar and Cadilac ATS-V by General Motors (NYSE:GM) as well as the Explorer are just a few such cars that will be debuting at the show.
Apart from the big names mentioned above there will also be other entries in the auto show like the Honda HR-V and the Mazda CX-3.
Flynn said that the economy is much better now and people are once again buying expensive cars. The auto industry of North America is currently most secure and solid in the market, which is why the manufacturers are looking up to this market to make profits.