While trucks and utility vehicles are thriving in this era of low gas prices, Ford Motor Co. expects passenger cars to account for a smaller share of global sales over the next five years.
By 2020, passenger cars will account for 43% of Ford’s global sales, compared to 49% in 2014. Utility vehicles will grow from 24% of the company’s total sales to 29%, while trucks grow from by one percentage point and account for 28% of Ford’s total sales.
Michele Bartlett, a Ford marketing expert with experience selling both utility vehicles and passenger cars, said customers not only the United States, but also in Europe and other parts of the world have come to appreciate the packaging and versatility found in the utility vehicles of all sizes. (more…)