Report: Ford developing $25,000 crossover and four-door Mustang

Talk of the affordability crisis may be penetrating corporate boardrooms. Hot on the heels of the name and starting price for Ford’s new affordable electric truck, news leaked today that the sub-$30,000 Fathom isn’t the only cheap Ford in the works. According to a report at Automotive News, the automaker is working on a new entry-level crossover that will start at around $25,000, although don’t expect it in showrooms until 2029.

The leak is courtesy of an unnamed Ford dealer, which, together with its peers, was shown an early prototype described as resembling a first-gen Ford Escape. The crossover is said to have both hybrid and unelectrified powertrain options, and Automotive News notes that several sources have told it that Ford will assemble a hybrid crossover at its Hermosillo plant in Mexico in 2029, alongside the Bronco Sport and Maverick.

Additionally, Ford apparently showed off a four-door Mustang, which Automotive News compares to the Porsche Panamera in terms of size and styling, albeit with a sub-$40,000 price tag (making it almost a third the price of the cheapest Panamera). And a third nugget of news—the universal electric vehicle platform that will build the Fathom will result in four other electric Ford models as well.

2029 is far enough out that plenty could happen to the proposed small Ford before it reaches the streets. But average transaction prices* crept above $50,000 by the end of last year, and we’re now left with a relatively small handful of new vehicles that can be purchased for less than $30,000. Even fewer if MSRP needs to be closer to $25,000. So an additional entry to that list ought to be welcome, especially if the starting price is about $25,000 in 2029 dollars. Even better would be other OEMs paying attention and following suit.

Ars reached out to Ford, which told us that it won’t comment or speculate on future products.

*ATP is the statistic that the industry tracks rather than the more potentially informative median; take it up with the people who collect the statistics.