The Ford Explorer Has a New Look After 8 Years

Automaker Ford has just unveiled the new 2020 Explorer and its the first time the SUV has been redesigned in eight years.

The newly designed Explorer, which was unveiled in New York this Wednesday, comes with new special features as well as new technology. It’s even lighter and better on gas as the company increased the towing capacity by 66 percent on the vehicle.

“The company thrives when we have fresh product, it is just as simple as that,” said Ford’s president of global markets, Jim Farley, to CNBC after the unveiling. “With this new line-up of utilities from top to bottom, it is just really going to allow us to grow.”

The new Explorer also comes with Ford Co-Pilot360 which provides driver assistance to avoid collisions.

“The new Explorer is very important for Ford,” remarked Jeff Schuster, analyst at automotive consulting firm LMC Automotive. “Even though the Explorer is the top-selling midsize SUV, there’s a lot more competition and new models coming in the next couple of years.”

“The Explorer is really in the sweet spot of the market,” added Schuster. “Last year, midsize SUVs made up almost 14 percent of the market and we think the segment will keep growing.”

“We are on our toes again,” said Farley. “We will grow more revenue, better profitability, you know, this is when the car business is great.”

The SUV starts at $33,000 and will go on sale this summer.

Disclaimer: We have no position in Ford Motor Company (NYSE: F) and have not been compensated for this article.