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Ford's (F) Novel Unit Ford Pro to Offer Premium Fleet Services
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Ford Motor's (F - Free Report) new global business, Ford Pro, recently rolled out its innovative, digital solutions designed to increase uptime and lower operating costs, which will usher in significant changes in the European commercial vehicle fleet production.
Ford Pro would provide customers with a comprehensive and holistic platform by combining software, charging, service and financing for commercial vehicles. It promises to offer fully integrated, digitized solutions that vouch for efficient fleet management for diesel- and petrol-powered vehicles, all-electric models, or even non-Ford vehicles. It is anticipated that Ford Pro will lead to $45 billion in revenues by 2025.
Connected vehicles form the core of Ford Pro. The integrated offering provides fleet uptime using the full suite of integrated solutions available. Ford Pro Vehicles offers a range of world-class commercial vehicles developed using Ford’s unparalleled expertise and led by the iconic Transit family, the world’s most popular cargo van range.
Most of Ford’s commercial vehicles sold in Europe cater to customers’ specific needs. The Ford Pro Special Vehicles team looks into these by delivering customized conversion products and solutions to drive their productivity.
The Special Vehicles team is expanding its offering to customers and convertors through a range of services. It is working to provide a range of digital solutions to integrate third-party systems into the in-vehicle touchscreen to ensure an improved user experience.
Ford Pro’s digital structure uses live data to assimilate vehicles, telematics, charging and servicing and generate value for customers. Fleets can access the Ford Pro Telematics software to optimize the management of their Ford-connected commercial vehicles, including real-time vehicle location, health alerts and driver monitoring to support compliance and training.
Fleets transitioning to all-electric commercial vehicles will benefit from the customized features of Ford Pro E-Telematics that is complimentary for one year for E-Transit customers. Features include details about current charging status, vehicle-specific state of charge and customizable low range alert thresholds.
The feature also allows for scheduled pre-conditioning to enable E-Transit’s battery and cab to be warmed or cooled before a shift to save time and conserve battery energy.
Via its Transportation Mobility Cloud, it delivers insights to leasing companies with existing telematics solutions.
The Ford Pro Charging offers a fully integrated charging system for fleets. It will ensure that specialist charging consultants work with customers for an optimum charging solution.
Ford Pro Charging also ensures a simplified home wall-box installation and administration to support fleets where drivers take their work vehicles home. It also provides access to more than 300,000 chargers and centralized billing for ease and flexibility.
The Ford Pro Service unit ensures maximum uptime by linking connected vehicle data and an unparalleled dealer network to ease out mitigating efforts of downtime. Ford Pro has also brought 1,500 EV-certified dealers across Europe and more than 4,500 authorized repairers with E-Transit service capability.
Ford Pro Service’s FORDLiive connected uptime system ensures fewer breakdowns, lesser time-consuming trips to dealers and faster workshop repairs.
More than 100 FORDLiive Uptime Agents work from dedicated uptime centers in Germany, Spain and the U.K. to proactively manage maintenance cases and respond to emerging issues.
Ford Pro also looks into finance through its upcoming Ford Pro FinSimple – a single transparent, flexible financing plan for small and medium vehicle fleets that will allow commercial customers to run a successful business.
Service offerings will include the purchase and lease financing of commercial vehicles with combined billing, commercial lines of credit, online account management and the option to work with a finance expert. FinSimple also covers other financing activities like converting vehicles to a business’ specific needs and end-to-end financing to support fleet electrification, including Ford Pro Charging solutions.
With Ford Pro, Ford ushers in a new generation of all-electric vehicles that promise novelty in experience and productivity boost for customers.
Shares of F have risen 21.6% against the industry’s 0.2% decline.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
F currently carries a Zacks Rank #5 (Strong Sell).
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Dorman Products has an expected earnings growth rate of 18.32% for the current year. The Zacks Consensus Estimate for current-year earnings has been marginally revised 0.4% upwards in the past 60 days.
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Standard Motor’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. SMP pulled off a trailing four-quarter earnings surprise of 60.5%, on average. The stock has declined 0.7% over the past year.
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Ford's (F) Novel Unit Ford Pro to Offer Premium Fleet Services
Ford Motor's (F - Free Report) new global business, Ford Pro, recently rolled out its innovative, digital solutions designed to increase uptime and lower operating costs, which will usher in significant changes in the European commercial vehicle fleet production.
Ford Pro would provide customers with a comprehensive and holistic platform by combining software, charging, service and financing for commercial vehicles. It promises to offer fully integrated, digitized solutions that vouch for efficient fleet management for diesel- and petrol-powered vehicles, all-electric models, or even non-Ford vehicles. It is anticipated that Ford Pro will lead to $45 billion in revenues by 2025.
Connected vehicles form the core of Ford Pro. The integrated offering provides fleet uptime using the full suite of integrated solutions available. Ford Pro Vehicles offers a range of world-class commercial vehicles developed using Ford’s unparalleled expertise and led by the iconic Transit family, the world’s most popular cargo van range.
Most of Ford’s commercial vehicles sold in Europe cater to customers’ specific needs. The Ford Pro Special Vehicles team looks into these by delivering customized conversion products and solutions to drive their productivity.
The Special Vehicles team is expanding its offering to customers and convertors through a range of services. It is working to provide a range of digital solutions to integrate third-party systems into the in-vehicle touchscreen to ensure an improved user experience.
Ford Pro’s digital structure uses live data to assimilate vehicles, telematics, charging and servicing and generate value for customers. Fleets can access the Ford Pro Telematics software to optimize the management of their Ford-connected commercial vehicles, including real-time vehicle location, health alerts and driver monitoring to support compliance and training.
Fleets transitioning to all-electric commercial vehicles will benefit from the customized features of Ford Pro E-Telematics that is complimentary for one year for E-Transit customers. Features include details about current charging status, vehicle-specific state of charge and customizable low range alert thresholds.
The feature also allows for scheduled pre-conditioning to enable E-Transit’s battery and cab to be warmed or cooled before a shift to save time and conserve battery energy.
Via its Transportation Mobility Cloud, it delivers insights to leasing companies with existing telematics solutions.
The Ford Pro Charging offers a fully integrated charging system for fleets. It will ensure that specialist charging consultants work with customers for an optimum charging solution.
Ford Pro Charging also ensures a simplified home wall-box installation and administration to support fleets where drivers take their work vehicles home. It also provides access to more than 300,000 chargers and centralized billing for ease and flexibility.
The Ford Pro Service unit ensures maximum uptime by linking connected vehicle data and an unparalleled dealer network to ease out mitigating efforts of downtime. Ford Pro has also brought 1,500 EV-certified dealers across Europe and more than 4,500 authorized repairers with E-Transit service capability.
Ford Pro Service’s FORDLiive connected uptime system ensures fewer breakdowns, lesser time-consuming trips to dealers and faster workshop repairs.
More than 100 FORDLiive Uptime Agents work from dedicated uptime centers in Germany, Spain and the U.K. to proactively manage maintenance cases and respond to emerging issues.
Ford Pro also looks into finance through its upcoming Ford Pro FinSimple – a single transparent, flexible financing plan for small and medium vehicle fleets that will allow commercial customers to run a successful business.
Service offerings will include the purchase and lease financing of commercial vehicles with combined billing, commercial lines of credit, online account management and the option to work with a finance expert. FinSimple also covers other financing activities like converting vehicles to a business’ specific needs and end-to-end financing to support fleet electrification, including Ford Pro Charging solutions.
With Ford Pro, Ford ushers in a new generation of all-electric vehicles that promise novelty in experience and productivity boost for customers.
Shares of F have risen 21.6% against the industry’s 0.2% decline.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
F currently carries a Zacks Rank #5 (Strong Sell).
Better-ranked players in the auto space include BRP Group, Inc. (DOOO - Free Report) , sporting a Zacks Rank #1 (Strong Buy) and Dorman Products (DORM - Free Report) and Standard Motor Products (SMP - Free Report) , each carrying a Zacks Rank #2 (Buy), currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
BRP Group has an expected earnings growth rate of 9.1% for fiscal 2023. The Zacks Consensus Estimate for current-year earnings has been revised around 7.9% upward in the past 60 days.
BRP Group’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. DOOO pulled off a trailing four-quarter earnings surprise of 68%, on average. The stock has declined 15.5% over the past year.
Dorman Products has an expected earnings growth rate of 18.32% for the current year. The Zacks Consensus Estimate for current-year earnings has been marginally revised 0.4% upwards in the past 60 days.
Dorman Products’ earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one. DORM pulled off a trailing four-quarter earnings surprise of 3.1%, on average. The stock has lost 4.6% over the past year.
The Zacks Consensus Estimate for Standard Motor’s current-year earnings has been revised around 1.1% upward in the past 60 days.
Standard Motor’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. SMP pulled off a trailing four-quarter earnings surprise of 60.5%, on average. The stock has declined 0.7% over the past year.