Ford Wants to Sell 5 Million Vehicles a Year by 2032

November 2 — According to The Wall Street Journal, people familiar with the matter say Ford CEO Jim Farley announced a new target at an all-hands meeting last Thursday: Ford plans to grow sales about 20% from current levels by 2032, reaching annual sales of 5 million vehicles.

The sources say Farley told staff that the company will rely on several new models to drive a recovery in sales over the coming years.

Ford’s global strategy rests on Farley’s principle of “no more boring cars”, a strategy that has led the company to abandon the affordable small cars and SUVs it once prioritised.

Farley has said, however, that affordable models remain a core focus: Ford plans to launch five new models priced under $40,000 (about 267,000 yuan) before the end of 2030, including a fully electric pickup.

Ford expects that pickup, called Fathom and priced at about $30,000 (about 200,000 yuan), to contribute more than 100,000 sales in its first year of production. Executives say Fathom may start production in the fourth quarter of 2027.

Overseas, Ford plans to work with France’s Renault and China’s Geely to launch several new models in Europe, with the parties cooperating at Ford’s plant in Spain to build them.

Ford’s figures show global dealer deliveries of about 3 million vehicles as of 30 September, down 9% from the same period in 2025. The last time its annual global sales passed 5 million was 2019; industry data show that a decade ago Ford sold more than 6 million vehicles a year.

Part of Ford’s decline comes from its own decision to discontinue models that had market appeal but thin margins, including the Escape and Edge SUVs, which had each been contributing hundreds of thousands of sales a year.