The new Ford Bronco SUV is already exceeding company expectations ahead of arriving in dealer showrooms next year.
More than 150,000 reservations have been made for the upcoming two- or four-door SUV, far surpassing Ford Motor's initial expectations, according to executives.
"That does exceed our optimistic expectations," Ford CFO Tim Stone told reporters Thursday when discussing the company's second-quarter earnings. "As a result, we're working really hard right now to increase our annual production."
Those reservations are for two- and four-door Bronco models. They exclude a smaller, more domesticated vehicle called the Bronco Sport that's built more like a car than a truck.
Ford unveiled the new Bronco and Bronco Sport on July 13 to great fanfare. The nameplate developed a strong fan base following the original two-door SUV being discontinued in 1996.
A limited "First Edition" Bronco model — starting at $60,800 — sold out quickly after the vehicle's unveiling. The company doubled availability of the model to 7,000 units. All have been reserved, Ford said.
"The Bronco reception has been very positive," Ford Chief Operating Officer Jim Farley told investors, saying reservations overall "far exceeded" expectations.
Farley said the mix of vehicles — ranging in starting price from about $30,000 to $60,000 — "is great." Ford declined to provide a breakdown.
Kumar Galhotra, Ford's president of the Americas & International Markets Group, has said the company projects it will sell hundreds of thousands of new Bronco SUVs a year.
Ford is taking $100 refundable deposits as part of the reservation process.Â
The Bronco Sport is expected to begin arriving in dealerships by the end of this year, followed by the Bronco next spring.
The Bronco Sport will be produced at the automaker's factory in Hermosillo Sonora, Mexico. The Bronco will be produced at a plant in Michigan.