(MENAFN- Khaleej Times)Ford Motor Co on Tuesday will launch a new luxury version of its F-150 pickup truck that could command prices above $60000 answering growing demand from US consumers for trucks that could substitute for a higher end German sedan.
The 2016 Ford F-150 Limited will go on sale later this year and will be a step up from the automaker's current top-of-the-line pickup the F-150 Platinum. Low gasoline prices along with better fuel economy have boosted demand for feature-laden duty trucks and large SUVs which are helping the bottom lines for the three Detroit automakers. One of the features that comes standard on the new F-150 Limited will be "multicontour massaging seats." In June half of the new F-150 pickup trucks sold by Ford were of its three existing premium models - Lariat King Ranch and Platinum. The lowest-priced Lariat is more than $40000 including destination charges and depending on the options taken a F-150 Platinum can top $60000. Ford has said its North American operating profit margin for this year will be as much as 9.5 per cent largely linked to the profits from its F-Series pickup trucks the best-selling model in the United States since 1982. The average price US consumers paid for fullsize pickup trucks in the first half of this year was $42429 nearly $10000 or 30 percent higher than in the first half of 2009 according to auto industry sales website and consultant TrueCar Inc. TrueCar found that the average price customers paid for F-150 trucks in the first half of the year was $46573 up 8 per cent from a year earlier compared with $38384 for the General Motors Co Chevrolet Silverado pickup truck down 2 per cent from a year earlier. Fiat Chrysler Automobiles' Ram pickup trucks sold at an average $42256 up 6 per cent from a year earlier. The 2016 F-150 Limited will have a 3.5-liter EcoBoost V6 engine with fuel economy of 17 miles per gallon in city driving and 24 mpg on the highway.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.