Ford needs another Taurus, and the $30K Fathom EV pickup isn’t it; plus, China-linked LightSpy spyware caught targeting victims in 13 countries
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What is the main topic discussed in this episode?
This is TechCrunch.
Few automotive companies are as dependent on breakout hits as Ford.
Why does Ford need a new breakout model like the Fathom?
It's almost as though it's baked into the company's DNA. From the Model T and the Taurus to the F-150 and the Explorer, Ford has lurched from one success to another. Recently, though, the automaker has been coming up empty handed. While its US vehicle sales rose six percent year over year to two point zero eight million last year. They are today less than half their peak of four point four eight million in two thousand. Of the new vehicles that Ford has introduced in recent years, none have become a sensation. Ford CEO Jim Farley is betting its forthcoming EV pickup, Fathom, will change its fortunes, calling the introduction of the truck and its universal EV platform a Model T moment for the company.
Ford needs a product that can compete with Chinese EVs, which have been taking the world by storm. Yet, for reasons that are both within and beyond Ford's control, the Fathom is unlikely to be another Taurus or Explorer. Two hits that drove Ford's sales in the nineties.
How does the Fathom’s pricing compare to other EVs and traditional trucks?
Fathom could be a minor success. Anyway you spin it, the base model will be a good deal. On Thursday, Ford said the Fathom would start at twenty nine thousand nine hundred forty-five dollars, including the destination fee. That is significantly below the $50,000 average for new vehicles and the $56,000 average for EVs. It's also about $5,000 lower than the Keating line, the average listing price for the largest price segment available at dealers. But consumers do not decide to buy a car based on price alone. Here's where Ford could run into some challenges. The Fathom will be a compact pickup truck, a form factor that the market largely ignored until Ford started selling the Maverick in 2021. The Fathom is entering an underexploited niche, but it doesn't appear to be one with enormous potential either.
Sales of the Maverick offer a clue.
What challenges does the compact‑pickup market pose for the Fathom?
They've been brisk, but at 155,000 last year, the small truck is not a blockbuster either. The Taurus sold more than twice as many at its peak in 1992. Now, the Fathom appears to have a few advantages over the Maverick. For one, passengers should enjoy a bit more interior space. The EV will also have a frunk, which could sway some buyers of traditional cars who have overlooked pickup trucks for lack of closed storage. But the fathom is still a pickup, and not everyone loves that look. The majority of the market today is dominated by SUVs, with just over seventy percent of prospective buyers looking for an SUV, compared with thirty three percent for pickups. That's according to Cox Automotive. Even among pickup fans, the Fathom may struggle to draw buyers.
For many, trucks are a vibe. They want them to look ready to tackle the Rubicon trail, even if they never make it beyond the city limits. Every automaker is aware of this.
Can the Fathom’s interior space and frunk attract sedan buyers?
GM made a point to mention how it is delivering the lifted trucks that its customers are demanding. The fathom from the little we've seen so far is Does not scream rugged. And then there's the EV thing. Most people who buy an EV would never buy an internal combustion vehicle again, but a lot of people don't love change. They're content with gas-powered cars and trucks, and many dealers are happy to keep them in one. The Fathom's success will not be dictated entirely by the whims of the market, though. Ford can spend on marketing and dealer training to overcome the EV hurdle, and may even convince people that a truck with a frunk is an ideal replacement for a sedan. But it's almost a guarantee that Ford will introduce a ruggedized version of the Fathom.
Will that be enough to make the fathom a breakout hit?
What is LightSpy spyware and how has it expanded globally?
Uh, probably not. But maybe Ford doesn't need it to be. Maybe the Fathom is a test of its new production process, a tow in the water at a part of the beach that has not been overrun. Compact trucks are not setting sales records, but the market for them is still growing. Ford can use that demand to soak up every fathom it makes while it refines its new platform and process.
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Chapters
7 chapters
1
What is the main topic discussed in this episode?
0:02–0:15
2
Why does Ford need a new breakout model like the Fathom?
0:15–1:22
3
How does the Fathom’s pricing compare to other EVs and traditional trucks?
1:22–2:22
4
What challenges does the compact‑pickup market pose for the Fathom?
2:22–3:24
5
Can the Fathom’s interior space and frunk attract sedan buyers?
3:24–4:18
6
What is LightSpy spyware and how has it expanded globally?
4:18–6:07
7
How did researchers link LightSpy to a Chinese contractor using a KFC order?
6:07–7:34
Speakers
1 identifiedMore from TechCrunch Industry News
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