Related Expertise: Automotive Industry
The Economic Impact of Ford and the F-Series
The Ford F-Series boasts a rich history. Debuted in 1948, the truck has been the best-selling vehicle in the United States since 1981. As part of its launch of the new 2021 F-150 (the 14th edition of the iconic truck), Ford commissioned BCG to evaluate the importance of the F-Series and Ford to the US economy. Specifically, BCG set out to answer the following questions:
- How does the F-Series compare in size and impact to its competitors and other recognizable consumer products?
- How have the F-Series and Ford contributed to US employment and GDP?
- What is the current and historical US manufacturing presence of Ford and the F-Series?
Popularity
The F-Series is the best-selling vehicle in the US and the best-selling pickup truck globally. As the most widely used vehicle in 39 of 50 states, the F-Series has 16.6 million trucks on the road, representing approximately 6% of all vehicles in operation in the US. The F-Series is also the most popular truck in 75% of commercial vocations.
When one thinks of the most popular consumer products in the US, a truck may not come to mind, but the F-Series ranks among them. Its revenue is greater than many familiar products and brands, all consumer appliances, and Disney’s entire global experiences segment. The F-Series generates more revenue than the major sports leagues in the US combined and exceeds that of many Fortune 100 companies, including Nike, Coca-Cola, Netflix, and Tesla.
Our report also details the importance of the F-Series to the US workforce. Based on our analysis, F-Series trucks are used by and support up to 13 million Americans—representing 8% of the US labor force—in their daily work.
ECONOMIC IMPACT
Our methodology evaluates direct impact through US-based employment numbers that are attributable to the F-Series and Ford, as well as through company expenditures. We have analyzed the indirect impact of Ford and its F-Series through US supplier expenditures, dealer presence, and downstream ripple effects, including jobs resulting from Ford employee spending in local communities. At the highest level, we’ve identified the following key metrics:
- F-Series. F-Series production contributes approximately $49 billion to US GDP. In addition, F-Series manufacturing is responsible for approximately 500,000 US jobs. Each direct F-Series job supports an additional 13 to 14 American jobs, such as those found in dealerships and local communities around Ford and supplier facilities.
- Ford. Ford’s US activities contribute approximately $100 billion to US GDP through suppliers, dealers, and various community industries.
Roughly 1 million jobs are attributable to the company’s US operations, meaning 11 to 12 jobs are supported for every Ford employee.
MANUFACTURING PRESENCE
Ford has a larger manufacturing footprint in the US than any other automaker. The company is responsible for one in five vehicles assembled domestically and for more than twice as many full-size pickups as any of its competitors.
These impacts and many more are detailed in our full report on the F-Series.
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