A wave of analysts predicts that Ford Motor Co. is confronting a rising challenge from its competitor, General Motors, particularly in the electric vehicle realm.
Analytical heavyweight Dan Ives from Wedbush Securities recently highlighted that Tesla currently holds the crown for electric vehicle sales, having delivered 462,890 units in the third quarter of this year. In comparison, Ford managed to sell only 23,509 electric vehicles, while GM outperformed Ford with 32,095 units sold, securing the third position among the leading U.S. automakers.
While acknowledging GM might never surpass Tesla, Ives asserts that GM appears poised to maintain a solid lead over Ford in the electric vehicle sales arena. Ford’s recent implementation of BlueCruise could potentially aid in narrowing the gap.
Excitement Surrounds New Baja Raptors
On a different note, Ford’s Raptor truck has garnered acclaim from MotorTrend reviewers. Enthusiasts eyeing a Raptor will have to be ready to part with a hefty sum, as one version featuring a twin-turbocharged V6 engine commences at $61,995.
Alternatively, a second Raptor variant, boasting a Whipple supercharger in a V8, has a starting price of $64,995. Premium Raptor models ascend into the six-figure realm, showcasing the brand’s commitment to luxury and performance.
Is Ford Stock a Wise Investment?
Switching gears to Wall Street sentiment, analysts hold a Moderate Buy view on F stock, reflecting a consensus of five Buy ratings, nine Holds, and one Sell issued over the past three months. Following a 7.04% decrease in its stock price over the last year, the average price target for Ford is $12.82 per share, indicating a potential upside of 24.86%.
Explore more analyst ratings for F stock here