Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. I'm Matt Miller and
Speaker 1: I'm Hannah Elliott and this is Hot Pursuit.
Speaker 2: We have an incredible guest.
Speaker 1: To honestly one of my favorite people in the industry
Speaker 1: to talk to. Yeah, he's a breath of fresh air.
Speaker 3: Absolutely say the same thing. And what a career he's
Speaker 3: had as well. I mean he bought a Mustang when
Speaker 3: he was like sixteen, drove it across country. His grandfather
Speaker 3: worked at Ford. He went for to really build his
Speaker 3: chops at Lexus and then I'm not sure if it
Speaker 3: was Bill or Alan Molalley who brought him over, but
Speaker 3: now is the CEO of that company, So you know
Speaker 3: who we're talking about.
Speaker 1: Jim Farley. Jim Farley, And I also have to say
Speaker 1: he's Chris Farley's cousin.
Speaker 2: That is also true.
Speaker 1: I just love that.
Speaker 3: And he's a real racer. He has his own podcast
Speaker 3: which I've been listening to for about a year now.
Speaker 3: This is like the two point zero version of his podcast,
Speaker 3: and I learned so much about him there. But I
Speaker 3: knew he raced because I'd seen him testing out cars
Speaker 3: in Dearborn and he talks about it as well's.
Speaker 1: I think he's a great driver, and he actually is
Speaker 1: a pretty humble guy, but he's a genius.
Speaker 4: All right.
Speaker 2: We've said too many good things about Jim. Yeah, yeah, yeah,
Speaker 2: let's get.
Speaker 3: Into the interview without any further ado. Let's kick it
Speaker 3: off with GTD because you guys have been doing so
Speaker 3: much with that. I mean, obviously you're pumped, and I
Speaker 3: see they've started selling him in France. I love the
Speaker 3: suspension window in the back. Tell me about that car.
Speaker 5: We just showed another version the production vehicle in France,
Speaker 5: and we went to the ring about a month ago
Speaker 5: just to see where we stand in terms of the
Speaker 5: vehicle's performance relative to the GT three RS. We're pretty
Speaker 5: much in the final throes of the engineering. We start
Speaker 5: production late this year early next year, depending on how
Speaker 5: the there's so many unique parts that you know, it's
Speaker 5: it's hard to predict exactly when you're ready to go
Speaker 5: to mass production. We have the transaxle and the suspensions
Speaker 5: system is very new, as you said, and we've never
Speaker 5: put that into a production vehicle, no one has really,
Speaker 5: So there's still some final development to be done on
Speaker 5: the chassis and but the team's working through that and
Speaker 5: you know, we're heading to production here in a matter
Speaker 5: of months.
Speaker 1: Are you taking cards yet?
Speaker 5: We have applications pretty much the car sold out now
Speaker 5: based on the applications, we haven't told everyone exactly the
Speaker 5: final option pricing.
Speaker 4: We have some special.
Speaker 5: Versions that no one's seen before, and so you know
Speaker 5: that will ultimately kind of shake out with the orders,
Speaker 5: but we won't sell it until and and get the money,
Speaker 5: so to speak, until we're kind of in production.
Speaker 2: Are you going to be racing it?
Speaker 3: I mean, I know from listening to your podcast that
Speaker 3: you're a big fan of racing and you do a
Speaker 3: lot of racing yourself. Sure, I remember you testing out
Speaker 3: a Lola I think when I was with you in
Speaker 3: Detroita a few years back. Are you going to be
Speaker 3: racing this car yourself?
Speaker 5: Last weekend at midd Ohio, we had our first Mustang
Speaker 5: Challenge with twenty seven cars, and I raced a Tilingua
Speaker 5: themed dark Horse are there and I think the dark
Speaker 5: Horse are and the GT four.
Speaker 4: Kind of the right products for me. You know, if I.
Speaker 5: Race the GTD or GT three depending on the class,
Speaker 5: whether it's in WEC or SRO or IMSA, I think
Speaker 5: it's pretty expensive and you really need to be doing
Speaker 5: practice and testing pretty much all year round. I don't
Speaker 5: have the luxury of that, and at sixty two, I
Speaker 5: just don't think it's a good fit for me to
Speaker 5: be racing all over the world with my job.
Speaker 4: It just doesn't fit. The GT four.
Speaker 5: Just to explain a little bit, we set up for
Speaker 5: the first time in Ford's history, at least, a kind
Speaker 5: of pyramid of racing from We put about ten thousand
Speaker 5: people through our experienced schools around the country, uh, and
Speaker 5: then they can graduate to a track car, a Raptor track,
Speaker 5: a dark Horse track car, and then we have the
Speaker 5: dark Horse r that we're racing now in our same
Speaker 5: make series like Mazta Cup and Porsche Cup. And then
Speaker 5: we have the GT four beyond that, which is a
Speaker 5: you know, automatic gearbox or a sequential gearbox, and it's
Speaker 5: pretty different than the dork cars are the Doork course
Speaker 5: are is.
Speaker 4: A manual shift vehicle.
Speaker 5: And then we have the GT three slash GTD depending
Speaker 5: on the GTE PRO depending on the and all of
Speaker 5: that is within you know, the Mustang at the top
Speaker 5: of the pyramid. We also have Aussie supercars and we
Speaker 5: race Mustang Cobra R in a char and of course
Speaker 5: we have a NASCAR and lots of other series, but
Speaker 5: so we want to give people the opportunity to kind
Speaker 5: of move up in that try that triangle, that pyramid
Speaker 5: wherever they want. And the big thing is that we're
Speaker 5: selling the vehicles, so we're no longer racing as a
Speaker 5: factory company. We're creating the dark Horse rs and the
Speaker 5: GT fours and GT three's for other teams like this.
Speaker 4: As we speak. You know, the Proton team is in
Speaker 4: Lamar Racing.
Speaker 1: Are you going to Lamar this weekend?
Speaker 4: Jim Bill's Bill's covering it.
Speaker 5: I'm going up to northern Michigan dirt biking with my daughter's,
Speaker 5: my two daughters, so and I promised him I do that,
Speaker 5: and so Bill and I try to cover marquee races
Speaker 5: like that. But this will be the first time that
Speaker 5: Mustang's at Lamar in the GT class, so it's pretty exciting.
Speaker 5: I think we qualify third, but qualifying doesn't matter much
Speaker 5: in Lamar. I raced last year my GT forty at
Speaker 5: Lamar Classic, and a year before I finished second my
Speaker 5: GT forty, So I've raced the law several times in
Speaker 5: the vintage stuff, but I'm really focused on GT four
Speaker 5: and dark Horse are and and that's a little intimidating
Speaker 5: because we are customer. We build the race cars for
Speaker 5: other people, not forward and sell them. And you know,
Speaker 5: it's probably not a good idea to race a lot
Speaker 5: with my customers.
Speaker 3: You don't want to beat them or but or like
Speaker 3: at midd Ohio we had a few little dense and dings.
Speaker 1: Yeah, that's that's normal, that's expected.
Speaker 3: But but Jim, you guys are doing are you doing
Speaker 3: a lot more of supplying cars to race teams because
Speaker 3: you're also in the Bronco you have the dr which
Speaker 3: I'm fast before.
Speaker 5: Yeah, we never did anything before. We always raced ourselves.
Speaker 5: This is the first time we really I think I
Speaker 5: explained about a year ago. We changed our strategy and
Speaker 5: this is all new for us. And we started on
Speaker 5: the off road side. You know, there's no Porsche of
Speaker 5: off roads, so we really believe that forward with Raptor
Speaker 5: and Bronco, we can be a global brand for off road.
Speaker 4: Performance and on the on road.
Speaker 5: We want to use Mustang in that pyramid to kind
Speaker 5: of you know, make racing sustainable and a business tied
Speaker 5: to these derivatives like GTD at the top of Mustang
Speaker 5: and build out the Mustang brand on the off road side.
Speaker 5: That's really the biggest, the biggest impact on our business.
Speaker 5: Raptor is like ten percent of a global prime. I mean,
Speaker 5: it's a very profitable vehicle. We now have Tremor below it.
Speaker 5: We have Raptor on Bronco Ranger and F one fifty.
Speaker 5: Now we also have Raptor R So we're starting to
Speaker 5: develop different derivatives of Raptor and that's just the beginning.
Speaker 5: And we also have the off road rodeo and a
Speaker 5: Raptor experience that you can buy when you buy your Raptor,
Speaker 5: you just you just go to the school and then
Speaker 5: we'll have a similar pyramid for off road. Probably the
Speaker 5: middle part won't be race and maybe more social activities
Speaker 5: and more club stuff like like bmwgs, you know, more experiences.
Speaker 5: But both off road and on road, we were following
Speaker 5: the same formula.
Speaker 1: Jim, you mentioned earlier. You mentioned manual and I'm just
Speaker 1: so curious how vital you think a manual transmission still
Speaker 1: is at Ford and specifically in Mustang, especially in light
Speaker 1: of you know, with the nine to eleven hybrid not
Speaker 1: having a manual option is what is Ford's philosophy on
Speaker 1: the manual transmission.
Speaker 5: Our belief is that each car company has its own
Speaker 5: unique DNA, and ours is a V eight manual and
Speaker 5: a coup And part of the reasons why we did
Speaker 5: the makey is because we could stay in that category
Speaker 5: and offer a V eight and offer a manual. I
Speaker 5: don't think Porsche should have all the fun and I think,
Speaker 5: you know, they're kind of the establishment now and we
Speaker 5: could be the disruptor, and so we're trying to learn as.
Speaker 4: Much as we can.
Speaker 5: I've always admired Masta and Porsche, and I think that
Speaker 5: Ford can do the same thing and kind of what
Speaker 5: We globalized a Mustang a couple of years ago, and
Speaker 5: some of our biggest dealers are in Australian, in Sweden,
Speaker 5: not in the US. Interesting Mustang is now the best
Speaker 5: selling sports coup in the world.
Speaker 4: We don't really talk about it.
Speaker 2: Well we talk about it, Yeah, we talk about it.
Speaker 1: And I think Matt needs like a Mustang raptor can
Speaker 1: we combine the two things.
Speaker 3: Well, I have to say I was in a Lamborghini
Speaker 3: Hurrican Strato a couple weeks ago and it was so
Speaker 3: much fun and not just for off road, but for
Speaker 3: commuting in New York.
Speaker 2: It'd be great to have a Mustang.
Speaker 3: It was just a little bit lifted with off road
Speaker 3: tires and a stick.
Speaker 4: Do you think it would sell?
Speaker 2: I don't know.
Speaker 3: I mean I would people like me would buy one.
Speaker 3: But do you think it wouldn't sell?
Speaker 4: What would you call it?
Speaker 3: Well, there's been at least an internet buzz for a
Speaker 3: Mustang Raptor for a long time, a raptor version of
Speaker 3: the Mustang.
Speaker 2: I don't know what I would call it.
Speaker 1: I would just call it the Mustang Raptor.
Speaker 2: With a Bronco, you just called it the Raptor, right, So.
Speaker 4: Yeah, yeah, so you know this.
Speaker 5: Anyways, I'm not going to make any future announcements on
Speaker 5: products at the show.
Speaker 4: But the triangles were overlap.
Speaker 1: That's not a no.
Speaker 5: That's not a no no, not noing, not a yes.
Speaker 4: That's why I was asking about the name.
Speaker 2: Well, yeah, I liked there. For a while.
Speaker 3: There was a wart Hog name floating around, which I
Speaker 3: thought was such a cool idea for the Bronco. In
Speaker 3: the Bronco, you can get a manual, at least you could.
Speaker 3: A buddy mine bought one in Colorado with the two
Speaker 3: point three. Is there ever going to be the chance
Speaker 3: of a bigger motor with a manual transmissioner with a
Speaker 3: Bronco or is that just you didn't think the take
Speaker 3: rate was going to be high enough.
Speaker 4: It's not so much the take rate.
Speaker 5: I mean, we're not doing it on a Mustang for
Speaker 5: the take grade or the sales. It's more for that
Speaker 5: people really love it or really passionate about that experience,
Speaker 5: Like I am, like billis we like shifting our car?
Speaker 5: You know, I love to the GT three touring. I
Speaker 5: thought it was a really good move by Portie, and
Speaker 5: you know, we really like so we're really looking at
Speaker 5: it more as an image thing and as an experienced
Speaker 5: thing that the company gets it more than you know,
Speaker 5: we could sell or not on a Bronco. We were
Speaker 5: really committed to an affordable Bronco and doing a two door.
Speaker 5: We didn't have to do a two door. We would
Speaker 5: sell all the Broncos we we had if we had
Speaker 5: a four door. But we did a two door, and
Speaker 5: we did a steel wheel Bronco and we did a manual.
Speaker 5: For that reason, the platform for Bronco is a ranger
Speaker 5: platform and it's very difficult for us to develop a
Speaker 5: high power engine with the manual transmission. We have a
Speaker 5: long history and there's a lot of great supplies like
Speaker 5: Tremic on the manual on the manual side from us Stang,
Speaker 5: but there's not as many. There's really no suppliers, so
Speaker 5: we have to do it ourselves and that requires a
Speaker 5: lot of engineering right now. You know, for Bronco, we're
Speaker 5: building out our derivatives and we have more to come,
Speaker 5: which you'll see. And I think the priority is, you know,
Speaker 5: more like a commercial vehicle or a high end luxury Bronco,
Speaker 5: which a lot of customers are asking for. That that's
Speaker 5: probably a higher priority for us from an image standpoint.
Speaker 3: I will preface this next question by saying the Bronco
Speaker 3: was one of the first turbocharge V six.
Speaker 2: As I drove where I was like, I like this.
Speaker 3: It really works and the and the car feels light
Speaker 3: enough and it's it's peppy, and I don't think you
Speaker 3: need more. However, when I'm in a V eight, I
Speaker 3: love the sound, I love the warmth, I love the vibes,
Speaker 3: and you can do that with the Bronco by as
Speaker 3: evidenced by the dr platform, Is there ever any chance
Speaker 3: that a V eight could go in a Bronco.
Speaker 5: It could, but I don't think that's going to be
Speaker 5: our priority. When we developed the Bronco in the mid
Speaker 5: six in the early sixties, it was proved in sixty
Speaker 5: two at the same meeting as a Mustang was approved,
Speaker 5: and it was the same Mustang. It was the same horse.
Speaker 5: One was a Bronco and one was a Mustang. But
Speaker 5: the designer designed the same horse doing two different things,
Speaker 5: and the whole concept of the Bronco. I have the
Speaker 5: approval paper Lei Cocoa proved it in my office right now,
Speaker 5: just you know, twenty feet from here. And the Bronco
Speaker 5: was an off road Mustang. That was the concept of
Speaker 5: the vehicle. So it does make sense to you know,
Speaker 5: kind of mix and match a little bit, but you know,
Speaker 5: that's that's really not our priority right now in Bronco.
Speaker 5: We really want to. Yeah, I think things are changing
Speaker 5: a lot for the auto industry. The best selling vehicle
Speaker 5: in the US for forty years has been the F series.
Speaker 5: We have an electric Mustang. We have an electric F
Speaker 5: one fifty hybrid is twenty five percent of all F
Speaker 5: one fifty sales. Now, the most popular combustion engine is
Speaker 5: a twin turbo VS six not a V eight.
Speaker 4: You know, things are changing.
Speaker 1: As fascinating the whole alone.
Speaker 3: I mean, I would say that maybe because you don't
Speaker 3: offer the big V eight, like my Raptor has a
Speaker 3: six point two liter V eight and it never gets
Speaker 3: old or disappointing, but can get.
Speaker 5: I guess, I guess, I guess what maybe you'll get
Speaker 5: in between the lines here I'll be explicit about it
Speaker 5: is We're just kind of an irreverent company in a way,
Speaker 5: and we want to we want to do things that
Speaker 5: surprise people. And I think a V eight Bronco wouldn't
Speaker 5: surprise a lot of people.
Speaker 4: And I think.
Speaker 5: You know, and I think a manual V eight will
Speaker 5: continue to surprise people in the Mustang even though it's
Speaker 5: kind of conventional. I mean, if we were doing a
Speaker 5: super high end raped or should we do it on
Speaker 5: Ranger or should we do it on F one fifty,
Speaker 5: there's an argument to be made there. We are the
Speaker 5: leader in the off road performance space and pickups where
Speaker 5: the number one producer pickups in the world, not just
Speaker 5: in the US. Rangers now number two to Toyota. When
Speaker 5: I came to the company was fourteenthers, it's really like
Speaker 5: twenty percent. It's our second highest following vehicle in the
Speaker 5: company is Ranger. We build in five plants around the world,
Speaker 5: and it is Ford in Australia and South Africa and
Speaker 5: South America, and we're number one in pickups in Europe
Speaker 5: now and we're just launching the Ranger in China and
Speaker 5: one of the fastest segments in China is a pickup market.
Speaker 5: So you know, we we have to think about the
Speaker 5: globe now because both Mustang and Raptor Global brands. We
Speaker 5: sell the Raptor not even the Raptor are the Raptor
Speaker 5: F one fifty in China for one hundred and sixty
Speaker 5: thousand dollars and we sell everyone we make.
Speaker 1: I mean, that's so interesting. And I watched the great
Speaker 1: package that our colleague David Weston did with you recently,
Speaker 1: and you in that package you did say that you've
Speaker 1: never seen a competition before like what you're seeing in China. Now,
Speaker 1: can you talk a little bit more about what Ford
Speaker 1: needs to do. I think you even called it the
Speaker 1: ultimate test for Ford in for the next few decades.
Speaker 1: Can you just walk us through what exactly needs to
Speaker 1: happen at Ford to be competitive.
Speaker 5: It's a great question. Thank you for asking it, because
Speaker 5: it is the most on the commercial side's the most
Speaker 5: important question to ask for Look the whole global industry's
Speaker 5: ninety million units. The installed capacity currently in China at
Speaker 5: an eight hour shift is fifty three million units, So
Speaker 5: fifty three percent of all the global production for automobiles
Speaker 5: can be satisfied with all the plants in China working
Speaker 5: at eight hour shifts.
Speaker 4: Their local market is twenty nine million.
Speaker 5: That means, yes, the capacity that they have to serve
Speaker 5: the rest of the world. I won't call it over
Speaker 5: capacity because it isn't They have enough capacity in China
Speaker 5: with just working eight hour shifts, not building one more plant,
Speaker 5: to satisfying the entire North American market, and and all
Speaker 5: of us not to.
Speaker 4: Have to build one va.
Speaker 5: So they are now twenty five percent of the Mexico market,
Speaker 5: the Chinese. They're more than seventy percent of the Russian market,
Speaker 5: which most people don't watch anymore, but it's a big market.
Speaker 5: They are almost twenty percent of the Thai market, which
Speaker 5: is really critical for Southeast Asia because you can export
Speaker 5: from Thailand to Australia. New Zealand with no tariffs. Now
Speaker 5: they're setting up their supply chain globally, including Mexico. There's
Speaker 5: like three hundred Chinese auto suppliers in Mexico.
Speaker 4: Now. Mexico is such.
Speaker 5: A large market for BYD and all the companies they
Speaker 5: are that export that it's big enough that they can
Speaker 5: start to justify their own plant just from Mexico. And
Speaker 5: of course with NAFTA, they can clearly import to the US.
Speaker 5: The Chinese evs or a small part of what they export,
Speaker 5: but they're a big part of what they export to Europe.
Speaker 5: There are already ten percent market share of all evs
Speaker 5: sold in Europe. They have brands like MG that are
Speaker 5: the top selling among the top selling evs in UK.
Speaker 5: They obviously own Vovo brand and post Our brand globally,
Speaker 5: so they're you know, they're very successful outside of China.
Speaker 5: And their biggest advantage is a new supply chain that's emerging,
Speaker 5: you know, that will compete against the Churbil and the
Speaker 5: corret Zu and of course the North America slash Western
Speaker 5: supply chain is very fit. They're building ground up, very
Speaker 5: efficient manufacturing plans for their supply chain and they have
Speaker 5: very established rules in China about how forward can compete
Speaker 5: with autonomous technology or data privacy. Our data can't leave China,
Speaker 5: and yet most of the countries in the world haven't
Speaker 5: really developed policies around data privacy and autonomy outside of China.
Speaker 5: For the Chinese, Huawei and Shaomi, their two big cell
Speaker 5: phone companies, have bet on automobiles, unlike Google and Apple.
Speaker 5: So when you drive the vehicles, they work great with
Speaker 5: your cell phone, especially if you own a Shaw or
Speaker 5: a Huawei phone. So the technology inside the vehicle has
Speaker 5: facial recognition AI assistance.
Speaker 4: In the vehicle, they have.
Speaker 5: Incredible mirroring with your phone. You can you know, you
Speaker 5: can find in China small brands that are micro targeted,
Speaker 5: like Li Auto, one of the fastest growing brands. They
Speaker 5: focused on erevs, which is a new kind of ev
Speaker 5: which we can go into. Leato focuses on Chinese large families.
Speaker 5: They have gravity seeds, projector screens in the rear seat,
Speaker 5: and their focus is to use the car as a
Speaker 5: stationary space. So they want to make the interior so
Speaker 5: digital and so attractive that there's really the most attractive
Speaker 5: way to use a Liauto car or stationary and so
Speaker 5: you know.
Speaker 4: They're really competitive on costs.
Speaker 5: They're getting really good on micro targeting, and for four
Speaker 5: to win, handed to your question, we have to be
Speaker 5: fully competitive on cost and we have to have vehicle
Speaker 5: concept that are very narrow, that are very specific to
Speaker 5: specific groups of people.
Speaker 4: And I think, what is that the first part? It
Speaker 4: looks like our future.
Speaker 1: When you say narrow car concepts, does that mean very
Speaker 1: specific variants of Mustang raptor all the things we've been
Speaker 1: talking about.
Speaker 5: No, it really means vehicles that are that are more
Speaker 5: narrow than an Explorer. What I mean, not physically narrow
Speaker 5: or but aimed at a much more specific client. Like
Speaker 5: for example, today we make we're the number one three
Speaker 5: row crossover you know, unibody crossover in the US with Explore.
Speaker 5: But that's not narrow. That's a very broad audience. We
Speaker 5: sell them as police interceptors, and we sell them to
Speaker 5: suburban families and everywhere in between. And we have an
Speaker 5: st version and it's like a really broad product.
Speaker 4: Get it.
Speaker 5: What that means for us if we were to be
Speaker 5: micro target is, let's say we only go after suburban
Speaker 5: families with kids in high schooler below who want to
Speaker 5: use the car for the parents as a relaxation pod
Speaker 5: and for the for the kids as a content content
Speaker 5: machine's so yeah.
Speaker 4: So instead of like watching.
Speaker 5: A movie in your home or your home theater, you
Speaker 5: go in your car in the parking lot, and that's
Speaker 5: the best movie experience you have.
Speaker 3: Right or I've I always lately have been trying to
Speaker 3: find vehicles that fit rear facing car seats because my
Speaker 3: wife insists on rear facing car set.
Speaker 1: The struggle is real.
Speaker 4: There you go.
Speaker 1: Yeah, Now you didn't mention EVS in that, like when
Speaker 1: as a way to compete again, you did mention e revs.
Speaker 3: And I'd like to hear more about that because I
Speaker 3: think that's fascinating. For example, I'd spend a week in
Speaker 3: the in the lightning. I have a lightning tie on
Speaker 3: right now.
Speaker 2: By the way, can you see this.
Speaker 1: Lightning time in your honor? It's not great that it was.
Speaker 2: It was it was.
Speaker 3: It was awesome as a family vehicle, it's great as
Speaker 3: a truck, it's great. It's luxurious, it's a utility, and
Speaker 3: everything about it for me was perfect and for a
Speaker 3: lot of people. That's a broad vehicle. But it's electric,
Speaker 3: so charging it. I mean, if you in the right situation,
Speaker 3: it's great. In the wrong situation, it's not. And I
Speaker 3: was thinking, man, if there was like a little range
Speaker 3: extender in the front, it would just change the game completely.
Speaker 2: Is that what an e rev is?
Speaker 5: Yes, exactly. So an EREV is only really offered in
Speaker 5: China today. It's very popular among larger vehicles in China.
Speaker 5: Obviously in China they don't drive as long distance as
Speaker 5: we all the three of us do, but they do
Speaker 5: go home for New Year's every year. So what an
Speaker 5: EREV is it's an all electric vehicle, so it only
Speaker 5: drives an electric mode, never is in the combustion engine,
Speaker 5: never drives the wheels, so it always feels like an EV.
Speaker 5: Good acceleration, very quiet, and you basically you have a
Speaker 5: battery system that powers the vehicle for about one hundred
Speaker 5: and twenty to one hundred and fifty mile, so some
Speaker 5: e revs down to eighty and for ninety seven percent
Speaker 5: of your trips. So three of us would take You're
Speaker 5: all electric using the batteries, and then it has a
Speaker 5: gas tank and an industrial motor that just charges the
Speaker 5: batteries and that is capable of propelling the vehicle in
Speaker 5: electric mode up to seven hundred miles and so when
Speaker 5: you take a long trip, your body will probably maybe
Speaker 5: hold out for three hundred miles before you have to stop.
Speaker 5: The combustion engine in China's used maybe once or twice
Speaker 5: a year, so they fill up once or twice a year.
Speaker 5: They use it as an electric vehicle, and they don't
Speaker 5: have to worry about charging on the road when they
Speaker 5: take their long trip. And you know, that's a very
Speaker 5: interesting it's the fastest growing electric vehicle segment in China.
Speaker 5: It's growing faster than the pure electric vehicles like the
Speaker 5: Lightning or the Machi. And I think we're going to
Speaker 5: see a lot I mean, our hybrid business in the
Speaker 5: US is up fifty percent this year. At four our
Speaker 5: EV business is up ninety. But you know that era,
Speaker 5: we're just going to see a lot more options in
Speaker 5: the middle where people's duty cycle, how they drive will
Speaker 5: be you know that the engineers will solve for those.
Speaker 1: Does the rise of hybrids mean that pure electric vehicles
Speaker 1: are receding?
Speaker 4: No, yeah, that's a thank you. No, I don't think so.
Speaker 5: I think, first of all, we should be very encouraged
Speaker 5: by the rise of the hybrid because, and more than anything,
Speaker 5: the rise in the hybrid pricing power in the past,
Speaker 5: you know, for It's been offering hybrids for twenty five years,
Speaker 5: when we did that, because it has duplicate powertrain, you know,
Speaker 5: the customer never paid for both power trains.
Speaker 4: Today they do, so we in.
Speaker 5: Many of our hybrids, we make more money than the
Speaker 5: combustion alternative.
Speaker 1: Interesting, that's the first.
Speaker 5: Time that's ever happened in my twenty five career of hybrids.
Speaker 5: Twenty five years of selling hybrids, and no, I think
Speaker 5: what we're going to see is just a lot of
Speaker 5: people don't have to do complicated math on a hybrid
Speaker 5: versus a pure.
Speaker 4: EV you don't know about.
Speaker 5: You don't have to do the resale calculation, the insurance calculation.
Speaker 5: You could just say, hey, here's how much fuel I save,
Speaker 5: or in the lightning, how much propower the F one fifty,
Speaker 5: how much pro power on board is worth for you
Speaker 5: as a generator. But I think you'll see hybrids diversifying
Speaker 5: to high performance hybrids into sports cars like we're seeing
Speaker 5: with nine to eleven. That's just the beginning. There'll be
Speaker 5: many more, and then you're going to see more kind
Speaker 5: of electric experiences that aren't three hundred and twenty five
Speaker 5: miles because the batteries are so big.
Speaker 1: Yeah, Is that that's still the restrictive factor really with evs. Yeah,
Speaker 1: the size of the size and weight.
Speaker 5: Yes, Yes, the larger vehicles require just enormous batteries that
Speaker 5: cost thirty to fifty thousand dollars.
Speaker 4: Some are even more expensive.
Speaker 5: And an EREV has half the battery size because it
Speaker 5: only has to go on.
Speaker 2: Are you going to is the ram charger in e rev?
Speaker 2: And are you going to build a EVS at Blue
Speaker 2: Level City or.
Speaker 4: I'm not going to go into that.
Speaker 5: All I'd say is, you know, if you if you
Speaker 5: toe with an e REV, it doesn't work. As soon
Speaker 5: as you start towing. It's not a good solution because
Speaker 5: you need big batteries to toe.
Speaker 4: So the key.
Speaker 5: Thing is anyways, you know, I'm just explaining what's available
Speaker 5: in China, and it seems very interesting to us.
Speaker 1: Are hybrids less politically charged in the US than EV's
Speaker 1: and do you see that changing after the election? Potentially?
Speaker 4: I don't know. I mean, I haven't seen the latest data.
Speaker 5: On Democrats and Republicans and how they look at hybrids
Speaker 5: versus pure EV versus ICE.
Speaker 4: Don't I don't know the data so I can't answer
Speaker 4: the question.
Speaker 5: But all I know is that our EV business is
Speaker 5: up now twenty percent through June eleventh.
Speaker 4: I checked the numbers before I came on with you
Speaker 4: guys too.
Speaker 1: Yesterday noted and appreciated.
Speaker 5: Hybrid's up fifty one percent for US constrained by our
Speaker 5: production and our combustion business is up two percent year
Speaker 5: of the year.
Speaker 3: Is the EV business driven in large part by ford
Speaker 3: Pro because that's I've heard that Ford Pro like just
Speaker 3: can't make enough.
Speaker 5: It's true when people think about electric, they don't really
Speaker 5: think about commercial and the commercial electric journey for US,
Speaker 5: because we're like seventy percent market share with E transit
Speaker 5: and we're the leader in commercial in the US, has
Speaker 5: gone much faster than we thought. And the reason is
Speaker 5: because people have they have regular roots that they're commercial
Speaker 5: plumbers and electricians. That kind of tradesmen really drive the
Speaker 5: US commercial market. And you know it doesn't work for
Speaker 5: super duty someone towing, but a transit van customers are
Speaker 5: really good fit for electric if they go back to
Speaker 5: the same place that they start every night and they
Speaker 5: have a repeatable route and what they can install depot
Speaker 5: charging and they don't need any charging on the road,
Speaker 5: and they don't also over buy batteries, so they buy
Speaker 5: smaller battery solutions in smaller range because they.
Speaker 4: Know exactly their drive cycle.
Speaker 5: And so we've seen a lot more customers like Eco Labs,
Speaker 5: some other customers go almost all electric now and they
Speaker 5: had no intention a couple of years ago. So it's interesting. No,
Speaker 5: you know, we sell ten to fifteen thousand on EV
Speaker 5: in the US. We've been number two for two years
Speaker 5: now to Tesla. People don't, I think realize.
Speaker 1: That doesn't seem like a known fact, is that in
Speaker 1: the US.
Speaker 5: Yeah, we've been number two to Tesla as a manufacturer
Speaker 5: for two years. Number three is usually Hyundai Kia combined.
Speaker 5: They're coming out with new vehicles like the EV nine,
Speaker 5: and so they're coming out with more choice. And yeah,
Speaker 5: we're up ninety percent year of the year. We had
Speaker 5: a kind of an interesting first quarter last year, so
Speaker 5: the comps are easy. But but you know, we'll we're
Speaker 5: projecting loose five billion dollars on EV's this year.
Speaker 4: So the real issue is no, the opposite's case, it's not.
Speaker 4: I don't really get worried.
Speaker 5: I get worried about our execution, but I don't get
Speaker 5: worried about the marketplace. The marketplace is the marketplace what
Speaker 5: I It motivates us because we report it separately. It's
Speaker 5: very motivational for the whole Forward team to turn that
Speaker 5: five billion dollar around. We're going to do it with
Speaker 5: the next generation of products EV's and improving the Gen
Speaker 5: one cost. We got out there in front of others,
Speaker 5: witnessed by being number two for the last two years. Now,
Speaker 5: some of our competitors are starting to scale their EV business,
Speaker 5: maybe behind beyond Ford. We're already working and landing our
Speaker 5: second generation products, while most of our competitors are kind
Speaker 5: of landing their first gen products. And that's why Doug
Speaker 5: Fields came from Apple to us, and why Alan Clark
Speaker 5: from Tesla came to Ford. They've been working on those
Speaker 5: vehicles for a couple of years now.
Speaker 1: And it does seem like you're saying it's very important
Speaker 1: for four to be competitive and even beat everyone else
Speaker 1: when it comes to price in the EV sector. And
Speaker 1: you've decided not to electrify the Lincoln the Lincoln line,
Speaker 1: right am? I remembering that?
Speaker 4: Right?
Speaker 1: That seems like part of the strategy.
Speaker 5: We really, we really, We've learned a couple of things.
Speaker 5: By being number two for a long time, we've learned
Speaker 5: two things. The first is there are really two classes
Speaker 5: of vehicles that lend themselves to electrification in the US,
Speaker 5: work vehicles and small vehicles. Small vehicles travel less distance
Speaker 5: and they tend to have other vehicles in the household
Speaker 5: that can take long trips. And we feel we really
Speaker 5: like our next cycle of products to be very focused
Speaker 5: on affordability, and we think that's also the right thing
Speaker 5: to do anyways, and that's why we set up a
Speaker 5: Skunkworks team in California to develop that product, that that platform.
Speaker 5: We didn't really think that the core for a team
Speaker 5: could really compete with by D in a way, and
Speaker 5: so that team has been working for two years on
Speaker 5: that affordable platform and then the work vehicles and the
Speaker 5: work vehicles, we've learned a lot. We're also very very
Speaker 5: popular with the E transit in Europe. Unlike some of
Speaker 5: our competitors, we are still in Europe. We are very
Speaker 5: profitable in Europe with our commercial vehicles, and so you know,
Speaker 5: that's that's really important for us. So the electric journey
Speaker 5: is very motivational. We don't like losing any money, but
Speaker 5: we also are inspired by the fact that the customer
Speaker 5: surprised us.
Speaker 3: So usually Hannah reports on the luxury stuff and I
Speaker 3: do all the finance stuff, and now she's like, she's
Speaker 3: going for the finance news scoops.
Speaker 2: And I want to.
Speaker 3: Talk about just cars, Like, yes, so Jim your famous
Speaker 3: you famously got a Mustang when you were a kid
Speaker 3: and drove out to California with it.
Speaker 2: I want to talk.
Speaker 3: About your your car guy inside you, not like a
Speaker 3: Chinese competition in the EV space, Like what what gets
Speaker 3: you pumped in your garage? Not like the new products
Speaker 3: you're making. Obviously you've got the dark Horse are is
Speaker 3: totally cool, and the must and the Bronco. I mean
Speaker 3: I desperately want one, But what about the older stuff
Speaker 3: or what do you what do you like to drive
Speaker 3: and collect?
Speaker 5: You know, it's changed over the years. So I'm in
Speaker 5: my sixties now and I really you know, and I've
Speaker 5: I'm fortunate enough to flip maybe more than an cars,
Speaker 5: including race cars. So I've kind of owned pretty much
Speaker 5: everything I've ever wanted to, and I kind of settled
Speaker 5: down to maybe in the golden part of my har
Speaker 5: person life. You know, the cars I really love. I
Speaker 5: love my seventy three Bronco because I work on it
Speaker 5: all winter, so.
Speaker 2: You like to wrench it basically, yeah, I do.
Speaker 5: I'm on the floor with my buddy, Jim Camp, and
Speaker 5: you know, it's not uncommon for me to be in
Speaker 5: a boardroom and my nails to be filthy because I
Speaker 5: just can't clean them. And I have a ninety Selene Mustang,
Speaker 5: which I really like working on. We got a supercharger
Speaker 5: on that and all new suspension, but it's all bone
Speaker 5: stock and outside. I have a K Lincoln in nineteen
Speaker 5: thirty seven K Lincoln, a LeBaron coop, which I really like.
Speaker 5: I'm starting to like the older cars more. I have
Speaker 5: a nineteen twenty eight Bentley that I do a road
Speaker 5: trip with my son. We drove all the way through
Speaker 5: Colorado last year on my vacation. He's seventy. He works
Speaker 5: at a dealership in London, and he's a car person.
Speaker 5: He's in high school and very much like me, and
Speaker 5: he loves making fun of me, and so we try
Speaker 5: to take.
Speaker 4: As many road trips as we can.
Speaker 5: We're going to take the Bentley from the Oregon border
Speaker 5: down to Monterey this year in July.
Speaker 3: Nice that's an open top. I imagine it's like a bar.
Speaker 4: It's a it's a Lama.
Speaker 5: It's not a bower, but it's a Lama four and
Speaker 5: a half liter, totally exposed. And he's got to work
Speaker 5: the fuel pressure pump and the fans, and I'm working
Speaker 5: the you know, the distributor advance and the fuel mixture
Speaker 5: and and then we always have, you know, things that happen.
Speaker 5: We're going to go with five or six other Bentley people,
Speaker 5: so that that's what I like to do.
Speaker 4: I like cars that I drive.
Speaker 5: I have a GT forty and a Cobra that I race,
Speaker 5: but I more than anything, I'm starting to like racing
Speaker 5: the modern stuff more. I really love cars that I
Speaker 5: get my hands dirty, that require that that when you
Speaker 5: drive them, it's a full experience, shifting, breaking, I like
Speaker 5: that whole emerging, just being immersed in a vehicle that
Speaker 5: you really don't have a lot of and you could
Speaker 5: just enjoy even going slow.
Speaker 2: Yes, that too.
Speaker 1: What's the main mechanical issue with it? Bentley? I'm so curious, like,
Speaker 1: what are you constantly against?
Speaker 4: What a awesome question.
Speaker 5: Okay, so the Bentley was engineered with no gaskets, so
Speaker 5: it is like weeping oil all the time, like all
Speaker 5: the time, oil coming out of every possible place, and
Speaker 5: so it's a constant kind of tightening, you know, silicon
Speaker 5: journey of trying to eradicate the oil. The good thing
Speaker 5: is you got to replace the oil, so there's always
Speaker 5: clean oil in it because it loses something naturally.
Speaker 1: Okay, the other thing, I'm really sorry, go ahead, is
Speaker 1: there a list of I must be a list.
Speaker 5: Oh oh no, there's so many things on the Bentley
Speaker 5: That Bentley has an accelerator in the middle of the
Speaker 5: three pedals.
Speaker 1: Wow, that seems counterintuitive.
Speaker 4: Sorry. Sorry.
Speaker 5: The break is in the middle, and so it's not
Speaker 5: a mechanical issue. It's just like every time I drive
Speaker 5: to Bentley, I got to remember the brakes.
Speaker 4: Uh, you know, not not in the middle.
Speaker 5: The break is on the far right where the accelerators
Speaker 5: and the accelerators, the accelerators in the middle, the clutches
Speaker 5: on the left. And so that's the biggest challenge that
Speaker 5: anyone has in driving an old Bentley, you know. And
Speaker 5: we got so much to talk about still like Formula one,
Speaker 5: but I want to get to the essence. I you know, look,
Speaker 5: I'm fortunate enough to be a CEO I'm like you guys,
Speaker 5: we're all part of the same car loving people, but
Speaker 5: I don't let that kind of contaminate my thinking as
Speaker 5: the CEO.
Speaker 4: That's harder.
Speaker 5: Yeah, that's harder than you think. Actually, I don't want
Speaker 5: to be that person who makes more decisions because I
Speaker 5: love cars. I actually put more pressure on a racing
Speaker 5: team to make good decisions on racing because I race,
Speaker 5: because I know how expensive it is, and I know
Speaker 5: how much you can waste racing. And I think on
Speaker 5: the same thing. You know, if we're going to do
Speaker 5: a Mustang GT three RS competitor, I'm not going to
Speaker 5: just be happy that it's good. It has to be
Speaker 5: better or else we shouldn't even try, right.
Speaker 3: I also think it's fascinating. I mean, your job as
Speaker 3: CEO is something that we'll talk to you about on
Speaker 3: Bloomberg TV, but I really want to hear more about.
Speaker 3: Like I remember when you first told me about the Predator,
Speaker 3: you know, the flat plane crank, and you are so
Speaker 3: pumped about the sound the scream. And I've recently got
Speaker 3: to drive a Trinity, which was also like awesome. So
Speaker 3: I was thinking to ask, what's your favorite Mustang power train?
Speaker 3: You know, not including the current one because I know
Speaker 3: all CEOs will be like the one we make now
Speaker 3: please go buy it.
Speaker 4: But the COYOTEA.
Speaker 5: This is going to sound totally unconventional, but when that
Speaker 5: five Leader came out in the Fox body, it really
Speaker 5: was something. And I still love driving my five Leader GT.
Speaker 5: You know, my Selene, it's not it's not super high
Speaker 5: technology anymore. But in the mid eighties when we came
Speaker 5: out with the five Leader, it was really something special.
Speaker 5: I have to say that five Lider was enjoyed by
Speaker 5: millions of people around the globe. We put it in
Speaker 5: so many different cars. People are still racing them and
Speaker 5: NHRA or you know, twenty five hours of Lemons.
Speaker 4: You know, it's just a great powertrain.
Speaker 5: And I guess maybe I'll surprise you a little bit,
Speaker 5: Matt with my answers. I just love that powertrain because
Speaker 5: it was a V eight that everyone could enjoy at
Speaker 5: affordable price, that had a manual, and I thought that
Speaker 5: was really cool.
Speaker 2: No, it was awesome.
Speaker 3: When when I was in high school and I was
Speaker 3: like a freshman, the kid who was the senior who
Speaker 3: was like the prom king he.
Speaker 1: Had you know, it wasn't you. I'm actually shocked.
Speaker 3: This guy, Brad, he had one and we were up
Speaker 3: to now I don't know, but at that time he
Speaker 3: was the coolest in all of Grandville, Ohio.
Speaker 1: Like, wow, yeah, wow, that's actually very cool. Yeah, Jim,
Speaker 1: I have to I can't let you go without asking you.
Speaker 1: You mentioned briefly Formula one, and it is really exciting
Speaker 1: that Ford's getting so exact. Yet I'm curious to know
Speaker 1: why that was so important for Ford And does this
Speaker 1: mean it's the start of something really big, you know,
Speaker 1: bigger than I know. Obviously you're partnering to develop engines
Speaker 1: until twenty thirty, but could we ultimately see a Ford
Speaker 1: racing team in F one?
Speaker 5: And now this is a good example of being a
Speaker 5: racer knowing what Formula is and Formula one is in
Speaker 5: and knowing the background of the company. You know, we
Speaker 5: have no aspiration own a team. We have no aspiration
Speaker 5: to build a Ford Formula one car. Why not, because
Speaker 5: because we believe the value in Formula one is the
Speaker 5: tech transfer, and the tech transfer that really matters is software, telemetry,
Speaker 5: arrow and battery tech. In twenty six Formula one will
Speaker 5: go to approximately fifty percent of electric and they're also
Speaker 5: going to a low carbon fuel, so they have a
Speaker 5: great need for high discharge batteries, which we actually have
Speaker 5: a lot of experience within nhr A electric racing, and
Speaker 5: we really are interested in low carbon fuel. Look at
Speaker 5: what Porsche is doing their first fuel for their high
Speaker 5: end nine to elevens, they go to a green fuel.
Speaker 5: I'm very interested in whether we should do a synthetic
Speaker 5: green fuel for Mustang in the first fuel at the plant,
Speaker 5: and I want to learn and I want to learn more.
Speaker 5: We want to learn more about that low carbon synthetic fuel.
Speaker 5: We will at Formula one because all of our combustion
Speaker 5: engineers are having to design an engine for it, and
Speaker 5: we're working closely with Exxon to learn more about the
Speaker 5: fuel's characteristic On the ero side. It turns out these
Speaker 5: very expensive batteries totally change the math on weight and arrow,
Speaker 5: and so for these smaller vehicles we have to have
Speaker 5: a radical approach to arrow, and the best erodynamicist in
Speaker 5: the world are in Formula one, and so we need
Speaker 5: to learn from them. Our arrow is great, but we
Speaker 5: do not have the advanced understanding of arrow that Formula
Speaker 5: one has, and the telemetry and the software for our
Speaker 5: commercial customers is getting more more important. Imagine if you're
Speaker 5: a plumber electrician and I can go to you as
Speaker 5: a forward customer, a customer to a customer and say,
Speaker 5: you will never be off the road, will predict failure
Speaker 5: of all components on your van, and we're going to
Speaker 5: use AI and sensors in the vehicle and they will
Speaker 5: never You will never be off the road. You just
Speaker 5: have to pay attention when there's a warning, you have
Speaker 5: to do something. And Formula one is already developing those
Speaker 5: AI models and all the telemetry to do predictive failure
Speaker 5: of all components. They are way ahead of the rest
Speaker 5: of the world on predictive failure. So for our pro business,
Speaker 5: you know, Formula one is really attractive on the software side,
Speaker 5: and that's the only reason why I went on to
Speaker 5: Formula one. They need us on hydus charged batteries, We
Speaker 5: need them on software. And hydro charged batteries are fun
Speaker 5: to work on because maybe we'll have a partially electric
Speaker 5: really a high performance vehicle and if we have the
Speaker 5: best dis charged battery, maybe the Ford works better than
Speaker 5: Porsche or anyone else.
Speaker 4: And the software is super important for pro.
Speaker 5: But we have no interest in owning a team We've
Speaker 5: done that in the past that really didn't work out.
Speaker 5: We're not good at running Formula one teas we tried,
Speaker 5: you know, we wound up, you know, kind of leaving
Speaker 5: a sport with our tail between our legs. We don't
Speaker 5: want to do that again. It's a totally practical relationship.
Speaker 2: But that's it.
Speaker 3: I mean, that's so amazing when you think about it.
Speaker 3: Jim Farley, Jim Farley says that they're going to Formula
Speaker 3: one to benefit the Ford Pro Unit.
Speaker 1: I mean, think about so that it makes to hear
Speaker 1: you actually articulate it, just like that makes total sense,
Speaker 1: and it's so refreshing just to hear you say. Honestly,
Speaker 1: it's not for we don't this is this is our practicality.
Speaker 1: This is the use and that's it, and we don't
Speaker 1: need anything more for our ego or anything that's rare.
Speaker 3: We're going into the weekend happy, Jim, thank you, thank
Speaker 3: you so much for joining us.
Speaker 5: So I'm going to the plan. I'm going for a
Speaker 5: full inspection on one of our plants here in Michigan.
Speaker 4: I love you guys. Both of you are amazing.
Speaker 2: Thanks funny.
Speaker 5: So I'm so thankful that there are car people like
Speaker 5: you who are in the mass media kind of educating
Speaker 5: customers about this transition. It's going to be scary for
Speaker 5: a lot of customers, and you're there for them. And
Speaker 5: I've known both of you for a while and I'm
Speaker 5: just so thankful to spend time with both of you.
Speaker 1: Me too, Jim, thank you so much.
Speaker 2: That was Jim Farling. He was just as good as
Speaker 2: we expected.
Speaker 1: Yeah, I have to say, David Weston did this great
Speaker 1: package with Jim that I just watched, and it's all
Speaker 1: about Detroit. But in the package, Jim made this comment
Speaker 1: that he's like, we're well into the messy middle of
Speaker 1: the most transformational time at Ford since the Model T.
Speaker 1: And after talking with him, I actually can see that.
Speaker 1: I mean you can see where he's like, this is
Speaker 1: where we are, this is where we are headed. It's great.
Speaker 2: I forgot.
Speaker 3: Now I'm kicking myself because I forgot to ask him
Speaker 3: about something Weston told me this morning. He said, you know,
Speaker 3: there's only one sports car that's made in America, and
Speaker 3: he's talking about the Corvette because David Weston has a
Speaker 3: C one Corvette.
Speaker 5: Yeah.
Speaker 2: He always says this to me.
Speaker 3: Yeah, because he thinks still of Mustang and Camaro, you
Speaker 3: know as muscle cars.
Speaker 2: But Mustang is definitely a sports car.
Speaker 1: Yeah great, No one in their right mind would argue
Speaker 1: that a Mustang isn't this. Of course it's a sports car.
Speaker 3: Of course, even though it has four seats and the
Speaker 3: same as obviously true of Camaro. That not your your
Speaker 3: very good point. I'm gonna tell Weston that next time.
Speaker 3: I was gonna ask Jim, but I didn't want to.
Speaker 3: No shame exactly.
Speaker 2: So very good stuff from Jim Farley.
Speaker 3: We didn't expect any less. And what else have you
Speaker 3: got going on right now? What's what's happening in Hannah
Speaker 3: Elliott's world?
Speaker 1: Well, it's great to be in the studio with you, Matt.
Speaker 1: That is my most favorite thing. I'm back in New York.
Speaker 1: It's the Mothership. It makes me so happy to be
Speaker 1: here and see all of these faces that I know
Speaker 1: and love and be in this amazing space. I'm going
Speaker 1: to take a week off. I'm going to be in
Speaker 1: the city. I'm going to be around. If you see me,
Speaker 1: come say hello. I'm excited to be here.
Speaker 2: Shoot Hannah an email.
Speaker 1: That way, shoot us an email. Both of us pursue
Speaker 1: a hot.
Speaker 2: Pursuit at Bloomberg dot net.
Speaker 3: That's it and now I know it by heart at
Speaker 3: Hot Pursuit at Bloomberg dot net.
Speaker 2: And are you driving anything fun? Have you been driving anything?
Speaker 1: No? I am. Actually I did drive a couple Mercedes
Speaker 1: last week that I'll talk about later. I think they're
Speaker 1: under embargo. I'm gonna go drive that hybrid nine to
Speaker 1: eleven next.
Speaker 2: Week in Sevilla.
Speaker 4: Yeah.
Speaker 2: Nice, so we'll.
Speaker 1: Talk about that, but no, this week it's pure foot
Speaker 1: foot traffic.
Speaker 2: Nice.
Speaker 3: So the nine to eleven We've talked about it, but
Speaker 3: I'm excited to get your take. Also, Sevilla an amazing city.
Speaker 1: Kind of your homeland. I adore it Germany.
Speaker 3: And I would recommend going to Cordoba and also to Granada.
Speaker 2: I mean, what an amazing part of Spain.
Speaker 3: I have been driving. So I drove last week the
Speaker 3: Kia Sorrento.
Speaker 1: I remember that awesome vehicle.
Speaker 2: I really liked it.
Speaker 3: I'm just always blown away because when that brand came out,
Speaker 3: I was like, ugh, like you go, you know, and
Speaker 3: now they continue to hit homeruns. I love the EV nine,
Speaker 3: as I talk about all the time, but the Sorrento
Speaker 3: was actually fun to drive and it's like a mid
Speaker 3: size suv.
Speaker 1: I love that for you. Also, are you getting a
Speaker 1: Mustang soon?
Speaker 2: I am speaking of it.
Speaker 3: I am gonna get a Mustang at the end of
Speaker 3: the week, I think next week. Right now, I'm driving
Speaker 3: a BMW Z four. I just started driving it, so
Speaker 3: I will tell you more about it next week. I
Speaker 3: gotta say it feels like heavy in the wrong places. Also,
Speaker 3: the breaks are not confidence inspiring. And for someone over
Speaker 3: six feet tall as I am, it's a tight fit.
Speaker 3: But I'm just happy that it has a stick shift
Speaker 3: comes down and I think it's gorgeous also, but we'll see.
Speaker 3: I gotta spend some more time driving it's I think
Speaker 3: they call it frozen forest green or something like that.
Speaker 3: I love green, but it's a matte color and I
Speaker 3: feel like car makers are all coming out. Ford is
Speaker 3: doing this too, like ten years too late with the
Speaker 3: matt colors, right, I would rather just be the glossy
Speaker 3: like metallic paint. But it's a beautiful car. I'll put
Speaker 3: it out on Instagram. I'll put it out on YouTube
Speaker 3: as well.
Speaker 1: I can't wait to see it. All.
Speaker 3: Right, Well, that's all we got for you this week.
Speaker 3: We'll be back, same time, same place next week. Remember
Speaker 3: to shoot us an email at hot Pursuit at bloomberg
Speaker 3: dot net.
Speaker 2: I'm Matt Miller, and
Speaker 1: I'm Hannah Elliott, and this is Bloomberg