After nearly 25 years, the iconic Ford Bronco is getting revamped and making a comeback with two new additions to the series' family, Dave Pericak, global director of icons at Ford, told Cheddar.
"If you look at SUVs, they're more popular now than they've ever been. In 2019, SUVs had their most sales ever. So, now is the time," he said.
The iconic off-roader's sport model is set to hit the sales floor in the U.S. later this year, according to Pericak, with the two-door and first-ever four-door versions to hit the market next year. Even as the fully gas-powered SUVs draw anticipation, they're not currently part of Ford's push to reduce greenhouse gas emissions.
Pericak said the company will be spending more than $11.5 billion in electrification over the next several years, but noted the initial focus will be on the F-150, Mustang, and Transit.
The coronavirus pandemic has hit U.S. automakers, including Ford, where deliveries reportedly dropped by a third year-over-year in Q2. Still, Pericak is optimistic that an uptick is coming as economies reopen.
"I hope that we're going to be coming out of this coronavirus pretty soon. I think we're going to be hitting it at the right time when people have a lot of the pent up demand," he said.
Ford is set to debut the new line of vehicles on July 13.
Peacock shared the trailer for the second season of the celebrity competition show, 'The Traitors.'
Darden, the parent company of chain restaurants like Olive Garden and Ruth's Chris Steakhouse, beat Wall Street estimates in its latest earnings report.
A former Facebook executive pled guilty to stealing more than $4 million from the company while she was employed there.
Rising safety concerns over water bead products marketed to kids have prompted major retailers like Amazon, Target and Walmart to pull some toys off their shelves.
The Congressional Budget Office said Friday it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years.
Intel is out with a new product to challenge other big players in the space like Nvidia and AMD.
Stocks fell after the opening bell Friday but will end on another positive week.
Cheddar News' Need2Know is brought to you by Securitize, which helps unlock broader access to alternative investments in private businesses, funds, and other alternative assets. The private credit boom is here and the Hamilton Lane Senior Credit Opportunities Fund has tripled in assets under management in just six months from November 2022 through April this year. Visit Securitize.io to learn more.
Americans picked up their spending from October to November as the unofficial holiday season kicked off, underscoring that shoppers still have power to keep buying.
The average long-term U.S. mortgage rate dropped below 7% to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
