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On Monday, Ford unveiled the resurgence of its Bronco SUV hoping to take on Fiat Chrysler's Jeep Brand.

On Monday, Ford unveiled the resurgence of its Bronco SUV hoping to take on Fiat Chrysler's Jeep Brand, according to CNBC.

The Ford Bronco has been an increasingly popular vehicle since it was discontinued in 1996. Ford has priced the new Bronco at $29, 995, only $205 more than a base Jeep Wrangler. Top-end models with additional features and capabilities can get above $60,000. Ford has even listed a "First Edition" Bronco model starting at $60, 800.

The Bronco comes in a two or four-door model, similar in size to the Jeep Wrangler. Ford has teased the launch of a new line of Broncos since January 2017. “It’s a long time coming. The market is waiting and ready,” said Jeff Schuster, president of the Americas and global vehicle forecasts for research firm LMC Automotive. “We expect this to stack up nicely compared to the Wrangler.”

The Bronco could contribute almost $1 billion to Ford's North American EBIT if around 125,000 vehicles are sold. This calculation assumes that Ford would make $7,500 of profit per vehicle. “With Bronco, Ford is making a clear push into the off-road segment of the [North American] SUV market,” Credit Suisse analyst Dan Levy said on Monday. “While we expect Wrangler to remain the leader in the off-road segment, we nevertheless see attractive opportunity for Bronco given its heritage.”

The Bronco line could emerge as a massive profit driver for Ford for years to come.

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