Ford Motor announced that it sold 521,334 vehicles in the U.S. during the first quarter, reflecting growth of 1% year-over-year. Meanwhile, Ford’s U.S. retail sales spiked 23.1% during 1Q.
Ford’s (F) truck sales grew 5.1%, while SUV sales jumped 14.3%. However, car sales declined 56.7% year-over-year, during the quarter. Ford’s EV [electric vehicles] sales increased 74.1% year-over-year, with 25,980 vehicles sold, supported by the fully electric Mustang Mach-E and F-150 PowerBoost Hybrid.
Andrew Frick, vice president of Ford Sales U.S. and Canada said, “Our customers are really embracing our new electrified vehicle lineup.” He added, “Our all-new Bronco Sport posted record monthly sales in March and helped power Ford Brand SUVs to their best start in 20 years.” (See Ford Motor stock analysis on TipRanks)
On March 29, Jefferies analyst Philippe Houchois raised the stock’s price target to $16 (31.5% upside potential) from $14, as the analyst believes that automakers should re-rate their valuation multiples higher amid the electric vehicle transition. Houchois maintained a Buy rating on the stock.
Overall, consensus among analysts is a Moderate Buy based on 6 Buys, 5 Holds and 1 Sell. The average analyst price target of $12.91 implies upside potential of about 6.1% to current levels. Shares have gained about 152% in one year.
Should Investors Have These Top Automotive Stocks On Their Watchlist For Monday?With all the hype around reopening plays now, automotive stocks are in a unique position. Why? Well, for starters, conventional automotive players stand to benefit from broader economic recovery as co
Electric vehicle (EV) sales have skyrocketed since 1999, when the U.S. Department of Transportation reported that only 17 hybrid electric vehicles were sold. Look even further back in the rearview mirror and you'll find that the story of EVs is much more complicated. In 1900 -- 1
A push to attract young and diverse talent and global consumers is behind some of corporate America's willingness to speak out on politically charged issues like Georgia's new voting law, executives and corporate governance experts said.
Ford Motor Co will resume making political donations and will not rule out donations to those lawmakers who voted on Jan. 6 against certifying President Joe Biden's election win, according to a letter from Ford seen by Reuters.
(RTTNews) - Ford Motor Co. (F) has announced cuts to production at six of its manufacturing plants in North America, as the automotive industry faces shortage in semiconductor chips. The impacted plants are in Illinois, Ohio, Kentucky, Michigan, Missouri and Ontario, Canada. Thes
Ford Motor Co's political action committee is resuming making political donations and will not rule out making donations to Republican lawmakers that voted against President Joe Biden's election certification on Jan. 6, according to a letter from Ford seen by Reuters.
(RTTNews) - Ford Motor (F) Thursday said U.S. sales for March increased 1% to 521,334 vehicles from 516,330 last year. Truck sales grew 5.1% to 277,233 units, Car sales plunged 56.7% to 27,202 units and SUVs gained 14.3% to 216,899 units.
Stocks did well on Thursday, on the last day before a three-day weekend for the stock market. The Nasdaq Composite (NASDAQINDEX: ^IXIC) led the way forward on Wall Street, rising more than 1.5% as of 2 p.m. EDT.Over the course of the past year, high-growth stocks in the software-
The iShares U.S. Consumer Goods ETF (IYK) is seeing unusually high volume in afternoon trading Thursday, with over 403,000 shares traded versus three month average volume of about 37,000. Shares of IYK were up about 0.3% on the day.
Chinese electric-vehicle maker NIO (NYSE: NIO) said that its deliveries set a new record in March, helping the company deliver its best quarterly sales total to date despite production downtime related to an ongoing shortage of semiconductors. NIO delivered 7,257 vehicles to cust
What happenedShares of Chinese electric-vehicle maker NIO (NYSE: NIO) were higher in early trading on Thursday, after the company's first-quarter sales came in above its guidance.
Ford Motor Co Chief Executive Officer James Farley's total compensation last year was about $11.8 million, up from $8.4 million in 2019, the U.S. automaker said in a proxy filing on Thursday.
After a year of getting hammered by the pandemic, a semiconductor shortage and storms that snarled Dana Inc's global supply chain, the auto parts maker is reaching for a new playbook.
Ford Motor Co and Mahindra & Mahindra will not collaborate on any project they had agreed to as part of their abandoned joint venture in India, the companies said.
The U.S. trade watchdog cleared South Korean battery company SK Innovation Co Ltd of violating rival LG Energy Solution's patents in a preliminary ruling, sending SK shares surging 15% on Thursday.
Ford Motor Co said on Wednesday, while announcing the latest North America production cuts at seven assembly plants due to the global chip shortage, that it would provide an update on April 28 to the expected hit to its 2021 profit.
From delayed car deliveries to a supply shortfall in home appliances to costlier smartphones, businesses and consumers across the globe are facing the brunt of an unprecedented shortage in semiconductor microchips.
The Mercedes-Benz unit of German automaker Daimler (OTC: DMLR.Y), announced Tuesday that it will be making the new iteration of its eSprinter electric vehicle (EV) in the U.S. The company said that the electric version of its Sprinter light commercial van would be produced at its
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