'We didn't want Aston Martin and Mercedes and Porsche to have all the fun with their cars,' Ford CEO Jim Farley says at the $300,000 Mustang GTD debut.
to have all the fun with their cars," Ford CEO Jim Farley tells Yahoo Finance from the Quail event here at Monterey Car Week."And we think it's kind of the right time for us to build Mustang at the higher end, the $300,000 range."
Indeed, this is no ordinary Mustang. While Ford wants to show the world what the company can do on the race track, the question becomes what buyers are willing to shell out $300,000 for a car that looks similar and is somewhat based on the $30,000 Mustang pony car. "The [Model] e business, the volume is OK. We spent the first half getting ready to triple production in the fourth quarter, but the profitability is really challenged," Farley said."Thankfully, the other two businesses make more than enough to make up for that challenge, but what we're seeing with [Model] e is that people just love the cars, but they don't want to pay premium.
"It's a really difficult discussion; to be frank, we're far apart," Farley says. Ford has much as stake as it has 20% more US workers thanand Stellantis, but he is hopeful a deal can be struck."I believe that Ford and the UW will find a way forward to guarantee a future for our manufacturing base in the country. And for the middle class, we have a lot of work to do in the next 30 days.
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