Feedback
Business
photo

Ford Upgrades Explorer as SUV Boom Accelerates

Image: A Ford Explorer
In a move that will allow Ford to cash in on America's rediscovered love of large SUV's, the automaker is rolling out a re-designed Explorer that includes a new option. Ford will sell a high-end platinum edition of the Explorer. Justin Solomon / CNBC

In a move that will allow Ford to cash in on America's rediscovered love of large SUV's, the automaker is rolling out a re-designed Explorer that includes a new option. Ford will sell a high-end platinum edition of the Explorer.

While Ford has yet to announce pricing on the re-designed SUV that will hit showrooms next year, don't be surprised if platinum versions of the Explorer eventually sell for well over $50,000.

"There is a lot of demand by our customers for a premium version of the Explorer," said Matt Zuehlk, Explorer brand manager.

Platinum versions of the Explorer will come with the most advanced tech package and refinement that will include Nirvana leather throughout the SUV.

Ford's move with the Explorer follows the success Jeep enjoyed with the Summit edition of the Grand Cherokee, which starts for $48,595 and the GMC Yukon Denali which starts at $63,770.

The surge in demand for premium edition full-size SUV's has pushed the average transaction price for large sport utility vehicles to $48,137 according to Truecar.com.

--- Phil LeBeau, CNBC