No more boring cars: Ford CEO looks to boost sales 20% by 2032 with new models -- WSJ

By discontinuing production of “boring cars” and making more affordable vehicles, Ford F CEO Jim Farley sees vehicle sales increasing by 20% by 2032, translating into 5M cars a year, The Wall Street Journal reported.

Speaking at a town hall meeting on Thursday after announcing third quarter results, Farley’s ambitious goal is based on expectations for well-received new models, including five new models priced below $40K, including an all-electric pickup.

Ford F sales have slumped over the years, undermined by the company’s decision to discontinue small SUVs like the Escape and Edge and the Focus hatchback. The company last delivered 3M vehicles through September 30, a decline of 9% from the same period last year, and half of what the carmaker delivered in the mid-2020s.