A multitude of analysts are sounding the alarm bells for Ford Motor Co. (NYSE:F) as they foresee an ascending challenge from their longtime rival, General Motors (GM), in the realm of electric vehicles.
Renowned analyst Dan Ives of Wedbush Securities recently emphasized that while Tesla (TSLA) is the reigning champion in electric vehicle sales, with a staggering 462,890 deliveries in the third quarter of this year, Ford’s sales figure of 23,509 EVs pales in comparison. GM, with 32,095 EVs sold in the same quarter, has positioned itself ahead of Ford, relegating the latter to a distant third among major U.S. automakers.
Ives, while acknowledging GM’s unlikely chance of outshining Tesla, remains confident that the company will maintain a significant lead over Ford in the electric vehicle market. Ford’s recent introduction of the BlueCruise feature may offer a glimmer of hope in this intense faceoff.
The New Baja Raptors: The Price of Power
Shifting gears, Ford’s Raptor truck has garnered acclaim from the experts at MotorTrend. However, consumers eyeing a Raptor should be prepared to loosen their purse strings significantly. The twin-turbocharged V6 engine version of the truck kicks off at a hefty price tag of $61,995.
Opting for the V8 version with a Whipple supercharger is an even more premium choice, with a starting price of $64,995. The top-tier Raptor models soar into the six-figure range, catering to a niche market of enthusiasts seeking unparalleled power.
Ford Stock Analysis: Road Ahead
On the Wall Street front, analysts have reached a consensus rating of Moderate Buy for Ford stock, with a reflection of five Buy recommendations, nine Hold ratings, and one Sell designation over the last quarter. Despite a 7.04% downturn in its stock price over the past year, the average price target for Ford of $12.82 per share suggests a potential upside of 24.86%.
For a detailed breakdown of Ford analyst ratings, click here.