Know The Difference Minute

Ford Motor Company swamped with orders for their new $20,000 Maverick small pickup.

What is Know The Difference Minute?

Hot topics, fresh stories and useful formation; all in 60 seconds

Time for the Know the Difference Minute, 2 stories from the automotive world making news today.

First, Ford Motor Company is running hot. It is swamped with orders for their new $20,000 Maverick small pickup and is cutting off customer orders to catch up. Right now, you’ll need to wait until summer to order a 2023 model. The price point is a winner as affordability of new vehicles fell to a record low in December. Ford expects to sell 80,000 Mavericks this year and 120,000 in 2023.

2nd story is GM’s announcement of a $6.6 billion investment to increase electric pickup production and build a new EV battery plant. The company wants to convert 50% of its North American assembly capacity to EV production by 2030. In all, GM will spend $35 billion on EV’s with a goal of passing Tesla in production by mid-decade.

I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.