Ford Motor (NYSE: F) announced Tuesday that its new Maverick compact pickup truck will be priced at just under USD20,000 when it hits the market. The vehicle is set to have a gasoline-electric hybrid powertrain as standard equipment, a move that kept it affordable. However, a gasoline-powered engine will also be available to customers who seek that option.
The automaker predicts that people who own sedans or small sport-utility cars, will most likely be attracted to the novelty of having a flatbed at an affordable price. Ford expects Maverick to bring in 40% of demand when it launches in the fall.
“I think we’ll get a lot of first-time truck buyers, people who really didn’t consider a truck before, because it was either out of reach or it was too big for them,” Ford product chief Hau Thai-Tang said. He said he expects the Maverick will appeal to a more diverse set of customers, including women.
Along with other big name automakers, Ford strives to convert its gas-powered lineups to all electric amid the growing concern to reduce vehicle emissions.
“We see it certainly consistent with our strategy of leaning into electrification,” he said. “Hybrid is a step and you’ve seen a lot of the work that we’re doing and all of our investments going into battery electric as kind of a continuum of improving fuel economy.”
Ford has chosen to differentiate the Maverick from others, such as Hyundai’s Santa Cruz, by making sure it’s a more traditional truck.
“It’s unmistakably a Ford truck,” said Heath Hilliard, Maverick creative exterior designer.