Ford unveils future Ranger pickup for segment rivals dominate

Reuters: Ford Motor Company on Sunday (January 14) unveiled its long-awaited Ranger midsize pickup truck, a year ahead of its arrival in showrooms, as rivals consolidate positions in a segment Detroit automakers once gave up for dead.

More than two years ago Ford telegraphed its decision to re-launch the Ranger midsize truck in North America after killing the model in 2011. At the time, Ford executives said they could satisfy pickup truck demand - and make more money - by widening the price range and engine options of its larger F-150 pickup model line. Detroit rivals General Motors Co and Fiat Chrysler Automobiles NV abandoned the segment around the same time.

Ford also introduced the Bullitt Mustang, a limited-edition model due out this summer. It’s the first Bullitt Mustang available globally. Ford said in a news release that the car is a tribute to the vehicle Steve McQueen drove in the 1968 movie “Bullitt” released 50 years ago.

Ford Motor Company announced it will significantly increase its planned investments in electric vehicles to $11 billion by 2022 and have 40 hybrid and fully electric vehicles in its model lineup.

The investment figure is sharply higher than a previously announced target of $4.5 billion by 2020, Ford executives said, and includes the costs of developing dedicated electric vehicle architectures. Ford’s engineering, research and development expenses for 2016, the last full year available, were $7.3 billion, up from $6.7 billion in 2015.