Workers at Ford’s Michigan assembly plant
DETROIT — Ford Motor Company confirmed Thursday that it will add a new small pickup truck called Maverick to its highly profitable truck lineup.
The compact vehicle is expected to be smaller than both Ford’s full-size F-150 pickup and its midsize Ranger. It could be one of the smallest and cheapest pickups in the United States, filling a void for some buyers as trucks have grown larger and more expensive.
“We do believe there is some opportunity there because of how expensive trucks have become, how large they have become, and the overall popularity of trucks,” said Michelle Krebs, executive analyst at Cox Automotive.
The pickup is built at Ford’s Hermosillo plant in Mexico, alongside the new Ford Bronco Sport SUV.
The Maverick is expected to go on sale by the end of this year, but a Ford spokeswoman declined to comment on the vehicle’s other details, other than its name and upcoming unveiling next week.
“Months of rumours, spy shots, and speculation all led up to this point. It’s true – Ford is introducing a brand-new small pickup truck called Maverick to its lineup “Ford stated in a press release.
According to the company, The Maverick will make its debut on Tuesday with the help of actress Gabrielle Union on her Instagram and TikTok channels, as well as Ford’s social media and Hulu.
In international markets, automakers have largely offered compact pickups, leaving the United States for larger trucks. According to Krebs, the vehicle could help Ford attract new customers, particularly on the West Coast, where smaller pickups and nondomestic brands perform well.
Ford confirmed the vehicle and its name for the first time on Thursday. It comes less than a week after Ford’s stock price surpassed $15 per share for the first time since 2015, following the company’s first investor day under CEO Jim Farley.
Farley’s new “Ford+” plan to turn around the company’s operations and expand into emerging markets such as connected vehicles and subscription services was the focus of the event.
During the event, the Maverick was mentioned as a new unnamed “white space product” with higher profit margins than the Ford Fusion sedan, which was previously produced at the plant.
Ford is no stranger to the name Maverick. From 1969 to 1979, it produced a two-door sedan with that name. Several vehicles were also sold under the Maverick brand in Australia, China, and Europe.
Analysts believe that in order to compete in the US market, the Maverick will need to be priced significantly lower than the Ford Ranger and other midsize pickups. A two-door Ranger starts around $25,000 and goes up from there. According to Ford’s website, a four-door model starts around $27,000.
According to Ford, more information about the Maverick will be released during the vehicle’s unveiling next week.