Ford to launch 5 new SUV models by 2020

Next year, in 2018 Ford will launch a refreshed version of the Ford Explorer SUV.

As per a top executive from Ford Motor Co, the industry wide sales of SUV is likely to continue on its upward swing in the United States. To tap this surging market Ford, the second-largest U.S. auto manufacturer, is set to unveil a fresh stock of Ford Explorer SUVs in 2018.

In the U.S., SUVs command a market share of nearly 40% from their 2016 share of 32.6%.

As per Mark LaNeve, Ford’s vice president of U.S. marketing, sales and service, the company expects to increase its footprint from 40% to 45% within 5 to 7 years.

Automakers are “responding to consumer demand,” said LaNeve citing the growing number of SUVs automakers are introducing in the market.

Improving fuel efficiency and low fuel prices are powering the surge of SUV sales. Auto manufacturers, including, Volkswagen AG, are shifting their marketing strategy in the U.S. from cars to SUVs.

Ford plans on launching five new SUv models in the U.S. by 2020.

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