"A lot of people are surprised we took such a big step with this product. I think people probably thought, 'Well, you're the leader already -- you're going to play it safe with the new truck. We are not playing it safe. We are adding lots of new features to the vehicle. The market's never seen a vehicle like this," Ford said at the North American International Auto Show in Detroit Monday.
The Detroit news reported the 2015 pickup truck unveiled at the show was 700 pounds lighter than the current production model.
Ford's F-150 has been the best-selling pickup in the country for 30 years, the News said. But the chairman said it was riskier to stagnate.
"I think the bigger risk is if you stand pat. We know our customers really well. We've done a lot of research and we know what they are looking for and this truck gives it to them," Ford said.
Production on the new truck will begin in the fourth quarter of 2013 and it will be released with "a staggered launch," Ford said.
He declined a chance to say the truck would have a fuel efficiency rating of 30 miles per gallon, the News said.
Notable deaths of 2014 [PHOTOS]