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CLAIM #23950 · Ford Motor Company (F) · 2024Q2 earnings call · Jul 24, 2024 · due Jan 24, 2025

We will expand these vehicle controls to speed control and acceleration limits in the near term.

Jim Farley · CEO

PENDING
graded after results covering Jan 24, 2025 are reported

In context

ble for Pro. In fact, in the U.S., one out of four of these fleets, mom-and-pop tradesmen, all the way to large companies, one out of four of those fleets are U.S. -- in the U.S. are Ford only. But the big opportunity for Pro is beyond vehicles and that's where we're focusing. With Pro Power Intelligence, we have a highly differentiated telematics offering. We offer real-time driver coaching, which provides significant improvements for driver safety and now is available in about half of our modem-enabled Pro vehicles. This includes features like seatbelt and speed monitoring and harsh braking notification. Pro Intelligence is also a platform for vehicle controls. Our first foray, it's a big deal, is Fleet Start Inhibit, which protects our Pro vehicles from theft and also unauthorized use. We will expand these vehicle controls to speed control and acceleration limits in the near term. Now, no third-party telematics solution can offer this functionality because it's related to the vehicle. We call it uncrossable moat for our software business. Over four billion miles have now been traveled in the first half of this year on vehicles equipped with Pro telematics, insights and controls. And our paid subscriptions for Ford Pro Intelligence grew 35% year-over-year, now including 610,000 paid subscriptions with a triple-digit growth in telematics fleet management and charging depot software. Turning to physical service, which is the second big non-vehicle revenue and profit for us at Pro, we have a massive opportunity to grow physical services of parts. In the first half of this year, Ford Pro was only 24% of our after-sales revenue. It's a huge upside. Bank of America estima

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SEC filings for F · Claim quote is verbatim from the 2024Q2 earnings call.