Ford eyes 'Nike shoe drop' moments, growing vehicle customization
Ford Motor Company is expanding its aftermarket accessory business by introducing limited-edition vehicle 'drops' inspired by sneaker culture. This strategy aims to increase profit margins by offering high-end customization packages for popular models like the Bronco and F-150.
Why it matters
Automakers are increasingly looking toward high-margin aftermarket customization to compete in a changing retail landscape and boost overall profitability.
BROOKLYN, Mich. — Ford Motor is expanding its accessory and parts business in an effort to boost profits and better tap into the $53 billion U.S. aftermarket industry.
The automaker is planning to increase its aftermarket products — from exterior detailing and vehicle wraps to performance parts and systems — and have more exclusive moments it's comparing to a "Nike shoe drop," with new and special-edition vehicle models, according to Matt Simpson, Ford Customization's executive director.
"Think like a 'Nike dropping a sneaker' is the vision," Simpson told CNBC during an event at the Michigan International Speedway racetrack here promoting the company's efforts. "We're significantly increasing our investment in this group to bring more choice and to engage customers in this aftersales."
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