Ford CEO Pledges More New Cars Under $40,000 to Boost Affordability

Ford CEO Jim Farley stated that making new vehicles more affordable should be a top priority for the auto industry. He acknowledged that the average price of a new vehicle in the U.S. is now close to $50,000—up 30% since 2019—and combined with rising fuel costs, this has placed significant pressure on consumers. In response, Ford plans to introduce more new models priced at $40,000 or below over the next few years, ensuring these vehicles are built in the U.S. while relying on competitively priced components sourced globally. Farley noted that most of Ford’s upcoming new models will offer more affordable variants, focusing specifically on the $40,000-and-under price segment. To ease the burden on buyers, Ford will also offer employee pricing on nearly all its new vehicles through July 4 and provide lease options ranging from $399 to $499 per month. Additionally, the company is launching more value-oriented versions of its best-selling models, including the F-150 and Explorer.