When Ford decided a year ago to introduce the new F-150 with aluminum siding, the auto world wasn’t quite sure what to think. Would this make the trucks more popular? Would the new F-150 continue to enjoy sales at the same levels it did before?
After nearly a first full year, the results seem to be resoundingly positive for the automaker. According to an Associated Press report, Ford’s earnings for the third quarter hit a new record with an 89 percent year over year gain, driven largely through increased sales volume from the remodeled F-150. On top of that, profits increased by 129 percent compared to Q3 of last year, reaching $1.9 billion.
Despite the somewhat higher cost of aluminum versus steel, the trucks are incredibly popular with buyers and supply is starting to catch up with demand. Ford plants moved into full-scale production levels in June, allowing them to operate at peak capacity for the first time, driving more trucks onto lots to keep up with buyers looking for the new models.
According to Bob Shanks, Ford’s CFO, the company’s truck line is more profitable overall, as well, with each F-Series truck averaging $2,000 more for the automaker’s bottom line versus 2014. The trucks also are roughly 700 pounds lighter thanks to aluminum body construction, providing improved fuel economy as vehicle manufacturers drive forward with a 2020 deadline to meet more stringent fuel economy standards mandated by the federal government.
As other companies begin to see the boon to Ford’s fuel efficiency ratings and bottom line from the change to aluminum, look for even more automakers to start rolling out aluminum-sided vehicles in the coming years.