Ford Stock Sees Uptick Amid Mixed Analyst Ratings
Ford Motor Company (NYSE: F) saw a 2% increase in shares, reaching $11.30 amid mixed analyst ratings. StockNews.com upgraded Ford to ‘hold’, while Morgan Stanley downgraded it to ‘equal weight’. With a current average target price of $12.56, investors are closely watching Ford’s performance in the competitive automotive market.
Ford Set to Announce Q3 Earnings Amidst High Expectations and Competitive Pressure
Ford Motor Company is set to announce its third-quarter earnings on October 28, 2024, with analysts forecasting a 1.7% increase in automotive revenue and a significant 19.9% rise in adjusted earnings per share. Following a challenging second quarter, this earnings report is critical for Ford to regain investor confidence and demonstrate its resilience in the competitive automotive landscape, especially in the evolving electric vehicle market.
New Zealand’s Shift Towards Electric Vehicles: 66% Considering Purchase in Next Five Years
A recent Ford study reveals that 66% of New Zealanders are considering purchasing electrified vehicles within five years, highlighting a significant shift towards electric mobility. Despite concerns about charging infrastructure and maintenance costs, Kiwis show a strong preference for eco-friendly practices and are more likely to support businesses using electric vehicles. Ford aims to alleviate buyer hesitations through extended test drives of the Mustang Mach-E, as the demand for electric vehicles continues to rise in New Zealand.
Ford Launches ‘Power Promise’ Initiative to Boost EV Adoption
Ford has launched the ‘Ford Power Promise’ initiative to encourage hesitant consumers to switch to electric vehicles (EVs). Starting October 1st, new EV buyers will receive a complimentary home charging solution, including a free Ford Charge Station Pro and installation. For those with existing chargers, a cash incentive of $2,000 is available. This program aims to alleviate concerns about EV ownership and enhance customer experience, positioning Ford as a leader in the growing electric vehicle market.
Ford Earnings Fall Short, Stock Plummets Amid Warranty Cost Challenges
Ford Motor Company reports disappointing second-quarter earnings, missing Wall Street expectations with adjusted earnings per share at 47 cents, below the anticipated 68 cents. Despite exceeding revenue estimates at $44.81 billion, the automaker’s profitability is hindered by rising warranty costs. Following the earnings report, Ford’s stock dropped approximately 11%. CEO Jim Farley emphasizes the company’s commitment to its restructuring plan and electric vehicle initiatives to enhance profitability and operational efficiency.
Ford’s Proactive Strategy to Reduce Recalls and Costs
Ford is implementing a new strategy to address recall issues by delaying delivery of new vehicles for additional quality checks. This proactive approach aims to reduce the number of recalls and associated costs in the long run, despite potential short-term financial impacts.
Ford recalls 552,188 units of 2014 F-150 due to transmission issue
Ford recalls 552,188 units of the 2014 Ford F-150 due to powertrain control module calibration issue causing unexpected downshifting. The affected pickups have the 6R80 transmission, leading to rear wheel lock-up. Updated PCM calibrations are available to prevent this issue, with owner notifications scheduled to be sent out between July 1 and July 5.
Introducing the Ford Mustang GT 2024: A Classic V8 Driving Experience
The new Ford Mustang GT 2024 offers a classic, old-school driving experience with its analogue V8 coupe design, catering to enthusiasts who prioritize road performance over track capabilities. Priced at £55,725, the GT features a 5-litre Coyote V8 engine delivering 440bhp and 398 lb ft of torque, updated for the 2024 model year to meet European emissions regulations. With a choice between a six-speed manual gearbox or a 10-speed automatic transmission for an additional £2000, the Mustang GT combines classic design, raw power, and modern technology for a compelling driving experience.
Celebrating the 60th Anniversary of the Ford Mustang at Charlotte Motor Speedway
Enthusiasts gathered at Charlotte Motor Speedway to celebrate the 60th anniversary of the iconic Ford Mustang, highlighting Angela Doubikin’s custom 2017 Mustang GT. The event showcased the deep passion and camaraderie among Mustang owners, with Ford announcing plans for a new Mustang Experience Centre in 2025. The enduring legacy of the Mustang as an American icon was evident at the celebration.
Automakers Struggle with Shift from Small Cars to SUVs and EVs
Automakers like Ford are facing financial challenges after prioritizing larger vehicles and electric SUVs over smaller, more affordable cars. The electric vehicle market is not meeting projections, leading to significant losses for companies like Ford, Mercedes, and General Motors. Ford’s decision to discontinue small car models in favor of electric vehicles has resulted in substantial financial losses, with the company reporting a $1.3 billion loss from the sale of just 10,000 electric vehicles.