May 9, 2025 • 9 mins
Matt Atkenson, Ford Pro executive director for North American sales discusses the outlook for Ford's commercial fleet arm amid trade and tariff uncertainty and after Ford held back full year guidance. He speaks with Tim Stenovec.
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Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, radio News. You're listening to Bloomberg
Business Week with Carol Masser and Tim Steneveek on Bloomberg Radio.
Speaker 2 (00:14):
I want to talk autos because Ford Pro is Ford's
commercial vehicle unit. It's Ford's most profitable unit. It posted
earnings before interest in taxes of one point three billion
dollars in the first quarter, far more than any other
unit at the company. We've got with us Matt Atkinson,
executive director of Ford Pro North American Sales. He joins
us from Detroit. Matt, good to have you with us.
(00:36):
We learned this week that Ford halted its guidance and
warned of a one point five billion dollar hit as
a result of tariffs. If you think about the ford
Pro business, especially in North America, what impact our tariffs
having on it? And is it different than the rest
of the company.
Speaker 3 (00:52):
Yeah, well, thank you so much for having me and
great to meet you. And it's an honor to be here,
especially during National Small Business Week. You know, one of
the things are really proud to say at Ford Pro
is that every business every week is Small Business Week.
But it's always nice when the country takes a step
back to recognize the contribution of small business. And you know,
one thing that is not lost on us and in
(01:14):
these times is that you know, our success is directly
tied to our customers success, and so in times of uncertainty,
one of the things that we have found is that
when you can be simple and transparent, that is what
can help the country the most. And one of the
biggest reasons why we've launched from America for America campaign
(01:34):
because when a customer, especially a small business, walks into
a Ford dealership, they know the price that they're going
to get. They're going to pay what we pay our
employee pricing, and we have found that has really helped
small businesses navigate these uncertain times.
Speaker 2 (01:49):
How are your small businesses doing? How are your potential
customers and your customers doing right now?
Speaker 3 (01:57):
Well, you know, in the we're coming off first quarter sales,
as you just announced, it was our best pickup sale
quarter in the last twenty years. And so you know
is you and your audience probably know. You know, our
full size pickup are the best in class that we've
had sales leadership there in the last forty eight years,
and so to have our best quarter at any given time,
(02:19):
as I think a sign of strength, but certainly not
one that we take for granted. But what small businesses
are telling us right now is that you know, in
these uncertain times, whether it's the transaction price that they're
going to pay for their truck or their van, they
also want to know that the company that they're choosing
to do business with is going to stick with them,
(02:39):
and especially for small business where they're operating fleets where
time is money. We're proud to offer a service network
across the country, seven thirty certified our commercial vehicle centers,
sixty five national service Elite centers that are opening up
across the country. And that is what customers, especially small business,
tells us they need in these times is they can't
(03:02):
afford any missteps. They can't afford to have that vehicle down.
And it's probably one of the reasons why Ford van
and trucks, you know, continue to be operated by more
small business than any other automaker.
Speaker 2 (03:13):
Look, I think the results that I mentioned kind of
speak for themselves that it's the most profitable unit at Ford.
I still, though, I think there are a lot of
questions about the impact of tariffs, especially given what we
heard from Ford earlier this week. Do you think that
tariffs like, what is the impact that tariffs have on
your business versus the greater Ford business?
Speaker 3 (03:36):
Look it. You know, the customers in small business can
hear a lot right now, including from us with earnings.
But I think one important thing they need to know
is that we have plenty of inventory on the ground
today and all of that inventory, from our cars all
the way up through our trucks, from all of our powertrains,
from gas, diesel, hybrid, even electric, all qualify for this
(04:00):
promotion and if you didn't catch it, that runs through
the fourth of July. So despite these uncertain times, like
I mentioned before, what they need to know is that
when they're in the market for a vehicle and their
business is looking to upgrade or replace, Ford pro and
our Ford dealers are going to be there for them
and can offer them that confidence in the marketplace.
Speaker 2 (04:23):
Ford said that it's going to produce one hundred thousand
super duty pickups at a plan in Oakville, Ontario that
would start next year. Given what we've heard from President
Trump and has pushed to have more US manufacturing through
his tariffs, is there a chance that Ford could instead
build those trucks at one of its US plants.
Speaker 3 (04:41):
Well, look, one of the things that we talk about
even with our dealers about future investments is that, you know,
it's nice to have demand for our pickup trucks. And
we've had that sales demand for quite some time now,
especially coming out of a supply strain supply constraint environment
like we saw over the last couple of years, and
(05:01):
so we're going to look at all options that are
on the table. But we know what we're finding right
now is that when customers walk in looking for a
super duty truck today, you know we are winning in
the marketplace because of the message that we have. And
again it comes back to that simplicity and transparency and
that's one of the reasons that gives us so much
confidence today and into the future.
Speaker 2 (05:20):
And look like again, the numbers sort of speak for themselves.
You guys dominate when it comes to commercial truck and
the van business in the US. You have about a
forty percent share. That's what you've established. Investors want to
know about growth. Where will that future growth come from?
Speaker 3 (05:37):
Well, look, we have no signs of no intentions of
letting our foot off the gas. We have had leadership
in that space for the last forty years. In the
commercial space overall, as I mentioned, our full sized pickups
have led in overall sales for the last forty eight
years going on forty nine. In fact, in our forty
ninth year, our lead has even grown versus what it
(05:58):
was at this point in your forty eight of leadership.
So what small business and customers are can feel confident
in is that the franchise of our F series pickup
trucks is really important to us, and we're always going
to give them the best, most capable pickup truck that
is on the market.
Speaker 2 (06:16):
Well, you know, we think a lot about services in telematics.
That's certainly been an opportunity for companies to grow when
it comes to software as a service. Ford Pro has
done well expanding its subscription telematics business to provide logistics
and other connected services to commercial customers. What is the
future of that business and then how can forward translate
that success to retail customers who maybe buy a Bronco
(06:39):
or an F one fifty.
Speaker 3 (06:42):
Right, you know, it's one of the areas that we're
we maybe even most excited about in the future of
ford Pro. You know, we are the modems that are
being activated in our vehicles are growing every day. We're
seeing lots of benefit from subscription services that are connecting
those vehicles and helping provide more efficiencies to our customers.
(07:05):
You know, one of the things that we benefit from,
as I said before, is that small businesses purchase FOD
trucks and vans more than any other automaker. And that
history that lessons, the lessons that we've learned over time
help inspire our future innovations. And what small businesses continue
to tell us is that if we can help provide
(07:26):
to them more services, more subscriptions to help prevent their
time being out of market, then then that is a
value story for them that they want to invest in.
And so we're going You're going to continue to see
new news from us into the future, and when that
can complement the strong history and heras that we have
in our products, we think that's a real winning story
(07:48):
for us and for our customers.
Speaker 2 (07:50):
So, Matt, when you think about the small businesses that
you sell to, really the backbone of the US economy,
I'm curious how they're embracing evs like the battery powered
transit than the electric f one fifty lightning? How is
that happening among commercial customers right now? Like, how is
selling an EV to a commercial customer different than selling
maybe the like a mock e to my dad for example,
(08:15):
which he bought.
Speaker 3 (08:16):
Sure, yeah, no, look at And you know, anytime you
introduce something new, and we have a history of you know,
introducing most of the country to automobiles in the first place,
anytime you introduce something new, you have to be able
to explain it. And I think what we're finding, especially
with small businesses that you know, they have very unique
needs when it comes to powertrain offerings, and you know
(08:39):
from the size and space that they can store the
vehicles to how they can use them. And one of
the things that have resonated the most for us is
everybody's interested in fuel economy savings. And we just launched
last week at a conference in California, our consultancy service
that's going to help small business take advantage of opportunities
(09:01):
in rebates to go purchase vehicles so that if that
if electric is of importance to them and they want
they want to make that investment, we can help them
maximize the amount of money they can get from federal
or state rebates and and look, regardless of what a
small business needs, one of the proof points and pride
points that we have is that we offer the power
(09:22):
of choice, gas, diesel, hybrid, electric. We're there for fleets.
We have the largest fleet in the United States and
the largest electric fleet in the United States. And so
whatever their need is, we want to be there for
them to help sell service and support through the telematics
and subscription services that we talked about a moment ago.
Speaker 2 (09:41):
Nat, I appreciate you taking some time in joining us.
That's Matt Atkinson, ford Pro, executive director, North American Sales
for ford Pro.
Bloomberg Audio Studios, Podcasts, radio News. You're listening to Bloomberg
Business Week with Carol Masser and Tim Steneveek on Bloomberg Radio.
Speaker 2 (00:14):
I want to talk autos because Ford Pro is Ford's
commercial vehicle unit. It's Ford's most profitable unit. It posted
earnings before interest in taxes of one point three billion
dollars in the first quarter, far more than any other
unit at the company. We've got with us Matt Atkinson,
executive director of Ford Pro North American Sales. He joins
us from Detroit. Matt, good to have you with us.
(00:36):
We learned this week that Ford halted its guidance and
warned of a one point five billion dollar hit as
a result of tariffs. If you think about the ford
Pro business, especially in North America, what impact our tariffs
having on it? And is it different than the rest
of the company.
Speaker 3 (00:52):
Yeah, well, thank you so much for having me and
great to meet you. And it's an honor to be here,
especially during National Small Business Week. You know, one of
the things are really proud to say at Ford Pro
is that every business every week is Small Business Week.
But it's always nice when the country takes a step
back to recognize the contribution of small business. And you know,
one thing that is not lost on us and in
(01:14):
these times is that you know, our success is directly
tied to our customers success, and so in times of uncertainty,
one of the things that we have found is that
when you can be simple and transparent, that is what
can help the country the most. And one of the
biggest reasons why we've launched from America for America campaign
(01:34):
because when a customer, especially a small business, walks into
a Ford dealership, they know the price that they're going
to get. They're going to pay what we pay our
employee pricing, and we have found that has really helped
small businesses navigate these uncertain times.
Speaker 2 (01:49):
How are your small businesses doing? How are your potential
customers and your customers doing right now?
Speaker 3 (01:57):
Well, you know, in the we're coming off first quarter sales,
as you just announced, it was our best pickup sale
quarter in the last twenty years. And so you know
is you and your audience probably know. You know, our
full size pickup are the best in class that we've
had sales leadership there in the last forty eight years,
and so to have our best quarter at any given time,
(02:19):
as I think a sign of strength, but certainly not
one that we take for granted. But what small businesses
are telling us right now is that you know, in
these uncertain times, whether it's the transaction price that they're
going to pay for their truck or their van, they
also want to know that the company that they're choosing
to do business with is going to stick with them,
(02:39):
and especially for small business where they're operating fleets where
time is money. We're proud to offer a service network
across the country, seven thirty certified our commercial vehicle centers,
sixty five national service Elite centers that are opening up
across the country. And that is what customers, especially small business,
tells us they need in these times is they can't
(03:02):
afford any missteps. They can't afford to have that vehicle down.
And it's probably one of the reasons why Ford van
and trucks, you know, continue to be operated by more
small business than any other automaker.
Speaker 2 (03:13):
Look, I think the results that I mentioned kind of
speak for themselves that it's the most profitable unit at Ford.
I still, though, I think there are a lot of
questions about the impact of tariffs, especially given what we
heard from Ford earlier this week. Do you think that
tariffs like, what is the impact that tariffs have on
your business versus the greater Ford business?
Speaker 3 (03:36):
Look it. You know, the customers in small business can
hear a lot right now, including from us with earnings.
But I think one important thing they need to know
is that we have plenty of inventory on the ground
today and all of that inventory, from our cars all
the way up through our trucks, from all of our powertrains,
from gas, diesel, hybrid, even electric, all qualify for this
(04:00):
promotion and if you didn't catch it, that runs through
the fourth of July. So despite these uncertain times, like
I mentioned before, what they need to know is that
when they're in the market for a vehicle and their
business is looking to upgrade or replace, Ford pro and
our Ford dealers are going to be there for them
and can offer them that confidence in the marketplace.
Speaker 2 (04:23):
Ford said that it's going to produce one hundred thousand
super duty pickups at a plan in Oakville, Ontario that
would start next year. Given what we've heard from President
Trump and has pushed to have more US manufacturing through
his tariffs, is there a chance that Ford could instead
build those trucks at one of its US plants.
Speaker 3 (04:41):
Well, look, one of the things that we talk about
even with our dealers about future investments is that, you know,
it's nice to have demand for our pickup trucks. And
we've had that sales demand for quite some time now,
especially coming out of a supply strain supply constraint environment
like we saw over the last couple of years, and
(05:01):
so we're going to look at all options that are
on the table. But we know what we're finding right
now is that when customers walk in looking for a
super duty truck today, you know we are winning in
the marketplace because of the message that we have. And
again it comes back to that simplicity and transparency and
that's one of the reasons that gives us so much
confidence today and into the future.
Speaker 2 (05:20):
And look like again, the numbers sort of speak for themselves.
You guys dominate when it comes to commercial truck and
the van business in the US. You have about a
forty percent share. That's what you've established. Investors want to
know about growth. Where will that future growth come from?
Speaker 3 (05:37):
Well, look, we have no signs of no intentions of
letting our foot off the gas. We have had leadership
in that space for the last forty years. In the
commercial space overall, as I mentioned, our full sized pickups
have led in overall sales for the last forty eight
years going on forty nine. In fact, in our forty
ninth year, our lead has even grown versus what it
(05:58):
was at this point in your forty eight of leadership.
So what small business and customers are can feel confident
in is that the franchise of our F series pickup
trucks is really important to us, and we're always going
to give them the best, most capable pickup truck that
is on the market.
Speaker 2 (06:16):
Well, you know, we think a lot about services in telematics.
That's certainly been an opportunity for companies to grow when
it comes to software as a service. Ford Pro has
done well expanding its subscription telematics business to provide logistics
and other connected services to commercial customers. What is the
future of that business and then how can forward translate
that success to retail customers who maybe buy a Bronco
(06:39):
or an F one fifty.
Speaker 3 (06:42):
Right, you know, it's one of the areas that we're
we maybe even most excited about in the future of
ford Pro. You know, we are the modems that are
being activated in our vehicles are growing every day. We're
seeing lots of benefit from subscription services that are connecting
those vehicles and helping provide more efficiencies to our customers.
(07:05):
You know, one of the things that we benefit from,
as I said before, is that small businesses purchase FOD
trucks and vans more than any other automaker. And that
history that lessons, the lessons that we've learned over time
help inspire our future innovations. And what small businesses continue
to tell us is that if we can help provide
(07:26):
to them more services, more subscriptions to help prevent their
time being out of market, then then that is a
value story for them that they want to invest in.
And so we're going You're going to continue to see
new news from us into the future, and when that
can complement the strong history and heras that we have
in our products, we think that's a real winning story
(07:48):
for us and for our customers.
Speaker 2 (07:50):
So, Matt, when you think about the small businesses that
you sell to, really the backbone of the US economy,
I'm curious how they're embracing evs like the battery powered
transit than the electric f one fifty lightning? How is
that happening among commercial customers right now? Like, how is
selling an EV to a commercial customer different than selling
maybe the like a mock e to my dad for example,
(08:15):
which he bought.
Speaker 3 (08:16):
Sure, yeah, no, look at And you know, anytime you
introduce something new, and we have a history of you know,
introducing most of the country to automobiles in the first place,
anytime you introduce something new, you have to be able
to explain it. And I think what we're finding, especially
with small businesses that you know, they have very unique
needs when it comes to powertrain offerings, and you know
(08:39):
from the size and space that they can store the
vehicles to how they can use them. And one of
the things that have resonated the most for us is
everybody's interested in fuel economy savings. And we just launched
last week at a conference in California, our consultancy service
that's going to help small business take advantage of opportunities
(09:01):
in rebates to go purchase vehicles so that if that
if electric is of importance to them and they want
they want to make that investment, we can help them
maximize the amount of money they can get from federal
or state rebates and and look, regardless of what a
small business needs, one of the proof points and pride
points that we have is that we offer the power
(09:22):
of choice, gas, diesel, hybrid, electric. We're there for fleets.
We have the largest fleet in the United States and
the largest electric fleet in the United States. And so
whatever their need is, we want to be there for
them to help sell service and support through the telematics
and subscription services that we talked about a moment ago.
Speaker 2 (09:41):
Nat, I appreciate you taking some time in joining us.
That's Matt Atkinson, ford Pro, executive director, North American Sales
for ford Pro.
Hosts And Creators
Tim Stenovec
Carol Massar
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