Ford is going to offer its fans a new Mustang Mach 1. The company’s stock has positively reacted to this news.
Ford Motor Company (NYSE: F) is reviving its Mustang Mach 1 which first came into service in 1969. According to a release by the company on Tuesday, the new 5-liter V8 model which was described by the automaker as the “pinnacle of 5.0 liter performance” will be available for sale in the US and Canada next spring.
The statement said that the new Mustang Mach 1 features a new-look grille and front end. It also boasts a more aggressive design. It added that the pony car’s new edition has enhanced performance abilities than the current Mustang GT models. These are the off-road versions of the Mustang built with powerful engines.
Publicity for the Ford Mustang Mach 1 Brand
The company unveiled a digital version of the limited edition on Tuesday. The Mach 1 is a buzz or hype car meant to attract more publicity to the brand. Such vehicles are rarely considered bestsellers but help automakers to have representative models that showcase their brands.
Bullit for instance is a Mustang model that inspired a movie with the same title in 1968. The movie starred by Steve McQueen created more publicity for the automaker at a time off-road ruggedness was not as trendy as today.
Ted Ryan, a Ford historian, said that this is a good time to revive the Mach1 considering the track record of the model.
“With success of the other recent buzz models such as Bullitt, now is a great time to bring back the legendary Mach 1 name to the pony car lineup after a 17-year hiatus,” said Ryan.
The pony car was last manufactured 17 years ago and auto enthusiasts believe that the 2021 model lives up to the 5.0-liter Mustang reputation.
With the ability to produce 480 horsepower and boasting a 420 pound-feet torque, the 2021 Mach 1 won’t let down the admirers of the Mustang. According to Jim Owens, head of marketing for Mustang who had earlier referred to the car as the pinnacle of 5.0-liter performance, “it’s going to pull you from the seat of your pants”.
The Mach 1 comes in a 10-speed automatic transmission and a 6-speed version though the company executives didn’t mention the price difference between the two options. In fact, the company is yet to make a statement regarding the cost of the 2021 Mach 1 which is meant for the international market, unlike the earlier Bullit version.
The company was mute on the sales prospect of the car even though the Mustang has sold more than 300,000 units since its debut in 1969. The vehicle was discontinued just after 9 years of production but later models were manufactured in 2003 and 2004.
Ford plans to launch the electric version of the car called Mach-E later this year.
F Stock on Recovery Mode
Ford stock is trading at around $6 each being in a recovery mode since the coronavirus pandemic. After the announcement, the stock managed to jump by around 6% in the pre-market. Now, as teh market is open, the stock price is around $6.62 which means that F stock is nearly 2% up.
However, as for the potential performance, the company may face serious threats from rivals such as Tesla Inc (NASDAQ: TSLA) whose Cybertruck is poised to challenge Ford’s F-150.
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Chuks is a blockchain enthusiast and finance researcher that has covered the crypto sphere for several years. He believes that the evolving technology would change how we do business.