CLAIM #23750 · Ford Motor Company (F) · 2022Q4 earnings call · Feb 2, 2023 · due Dec 31, 2023
“And we expect 2023 to be another big, strong year of share growth.”
Jim Farley · CEO
In context
“les on the road in North America and Europe and over 1,400 specialized commercial vehicle dealerships, many of which opened 24/7. In fact, last year, mobile service repair orders increased 85% for us in Pro. And this improves the customer experience while importantly increasing the attach rates of our high-margin parts business. Now moving to Blue. The team is focused and has delivered the freshest and most appealing product lineup in our industry. We know that typically the fresher the ICE portfolio, the greater the pricing power. So, our decision to move away from and commoditized utilities to vehicles like Bronco Sport and the Big Bronco, the Maverick, the Puma in Europe and hybrid powertrains has really paid off. Ford gained nearly one point of market share here in the U.S. last year. And we expect 2023 to be another big, strong year of share growth. Ford Blue is a growth business for the foreseeable future with strong profits and robust free cash flow. An F-Series was America's best-selling truck for 46 consecutive year now, outselling its second-place competitor by more than 140,000 trucks. We're launching even new pickups like the new Ranger here in North America and in South America after we've already launched the new Ranger in Asia and Europe last year. In addition, Blue is going after billions of cost improvements from engineering to manufacturing to our bill of material. And in quality, we have work to do. Ford has been the number one in recalls in the U.S. for the last two years. Clearly, that's not acceptable. We've overhauled our entire enterprise quality operating system. And we are already seeing improvements in initial q”
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SEC filings for F ↗ · Claim quote is verbatim from the 2022Q4 earnings call.