Workers at the Ford assembly plant in Michigan
DETROIT – Ford engine will add a new small pickup called the Maverick to its highly profitable truck lineup, the company confirmed on Thursday.
The compact vehicle should be smaller than Ford’s F-150 full-size pickup as well as its medium-sized ranger. It could be among the smallest and cheapest pickups in the U.S. and fill a void for some buyers as trucks keep getting bigger and more expensive.
“We believe there are some opportunities here because of the price of trucks, how big they have got, and the general popularity of trucks,” said Michelle Krebs, executive analyst at Cox Automotive.
The pickup will be produced at Ford’s Hermosillo plant in Mexico along with the company’s new Ford Bronco Sport SUV.
The Maverick is expected to hit the market by the end of this year, but a Ford spokeswoman declined to comment on any details of the vehicle other than its name and the reveal next week.
“Months of rumors, espionage and speculation have led to this moment. It’s true – Ford is adding a brand new little pickup truck called Maverick to the lineup, ”Ford said in a press release.
The Maverick will debut Tuesday on her Instagram and TikTok channels, as well as Ford’s social media and Hulu, with the help of actress Gabrielle Union, the company said.
Automakers have mostly offered compact pickups in international markets and left the United States for larger trucks. The vehicle could help Ford attract new customers, particularly on the west coast, where smaller pickups and foreign brands do well, according to Krebs.
On Thursday, Ford confirmed the vehicle and its name for the first time. It comes a week after Ford’s share price cracked $ 15 per share for the first time since 2015 its first investor day under CEO Jim Farley.
The event focused on Farleys new “Ford +” plan to reverse its business operations and expand into emerging markets such as connected vehicles and subscription services.
The Maverick was identified during the event as a new, unnamed “White Space product” that would have better margins than the Ford Fusion sedan that was previously produced at the plant.
The Maverick name is not new to Ford. It produced a two-door sedan with that name from 1969 to 1979. The company also used the Maverick name for several vehicles in Australia, China and Europe.
Analysts have said that the Maverick has to be well below the Ford Ranger and other midsize pickups to be competitive in the US market. A two-door version of the Ranger starts at around $ 25,000. A four-door model starts at around $ 27,000, according to Ford’s website.
More details on the Maverick will be released during the vehicle’s unveiling next week, according to Ford.