CLAIM #23755 · Ford Motor Company (F) · 2022Q4 earnings call · Feb 2, 2023 · due Jan 31, 2024
“Now this is only going to accelerate when the new Model e dealer program takes effect in January next year.”
Jim Farley · CEO
In context
“ic full-size pickup, which, by the way, is awesome. These EVs will be fully software-updatable. That means a brand-new electric architecture, and they're going to be radically simplified. Imagine three body styles, each with volume potential of up to 1 million units and just a handful of orderable combinations. That's what we're doing at Ford for the second generation of products. And that means higher customer sat, better quality, lower bill material and lower manufacturing costs. When are when we start reporting according to these new segments in the fourth quarter, you're going to have complete visibility in the Model e's margin trajectory and understand the key levers to achieve our Model EBIT target of 8%. We're already making the customer buying experience better with less friction. Now this is only going to accelerate when the new Model e dealer program takes effect in January next year. This program has been adopted by nearly 2/3 of our 3,000 U.S. dealers, and it's based on a radical redesign on our customer experience. Next January, we'll be selling EVs at high volume with virtually no inventory, a simple e-commerce platform for our customers, non-negotiated price set by the local dealer and remote pickup and delivery for all customer experiences. We're also expanding BlueOval charging network at all of our dealers and we'll have dealer staff trained not only on software but all the EVs. Now I've said before, software and experiences will be the key differentiator for our industry. I mentioned earlier that BlueCruise, our driver assist hands-free technology, was just tested by consumer ports and judge the best hands-free autonomous system on the market. Let that sink in”
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SEC filings for F ↗ · Claim quote is verbatim from the 2022Q4 earnings call.