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CLAIM #23898 · Ford Motor Company (F) · 2024Q1 earnings call · Apr 24, 2024 · due Dec 31, 2024

That should put us in the middle of the pack.

Jim Farley · CEO

PENDING
graded after results covering Dec 31, 2024 are reported

In context

ces business led by Ford Pro. You don't need to look very far beyond our mobile services. An example, Ford now has 3,500 or more remote service vehicles in our fleet globally. And last year, we did 2.4 million remote service experiences, both remote service and pickup and delivery. 40% of that was for Pro and 60% was for our retail business. Ford now has more than 700,000 paid subscribers for software. That's up 47% year-over-year. It's capital efficient, and the gross margins are more than 50%. Our quality is making real progress. Kumar and the team have really focused on key areas. Our '23 model year, three months in service, initial quality is 10% better than the previous model year. And we're seeing our current model year that we're selling for several months, another 10% improvement. That should put us in the middle of the pack. And many of our vehicles start to lead their segments in initial quality. But to bend the curve on warranty costs and customer recalls, we're really focusing on our launches. We're past the Super Duty launch now and well into the F-150 launch, and we made a lot of changes to improve and bend that curve. On the F-150 and others, we've delayed the OK2Buy three to six weeks. We've taken a lot of new testing regiments. Actually, we ended the quarter with 60,000 units in our plant stock, which hurt our first quarter but will benefit because we're shipping those now in our second quarter for all those quality processes. And what we're so far seeing is, we avoided about 12 recalls on F-150. And we're seeing the best performance on 3 MIS after a launch in a long time. And I'd like to be specific

Verify independently

SEC filings for F · Claim quote is verbatim from the 2024Q1 earnings call.