Ford Falls Behind In The EV Race
Portfolio Pulse from Upwallstreet
Ford Motor (NYSE:F) reported strong Q2 results, boosted by its fleet and legacy truck units. However, its EV sales remain small compared to its traditional automotive fleet. Ford lost its second place in EV sales for the first half of the year due to work performed at its production facility. Other automakers including General Motors (NYSE:GM), Honda Motor Co (NYSE:HMC), Nissan Motor (OTC:NSANY), Hyundai Motor Company (OTC:HYMTF) and Kia reported at least 14% rise in EV sales. Ford's EV sales shrank 2.8% to 14,843 vehicles due to shortage of Mach-E supplies.
July 07, 2023 | 2:35 pm
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NEGATIVE IMPACT
Ford's strong Q2 results were overshadowed by its lagging EV sales, which could impact investor confidence.
Despite strong overall results, Ford's lagging EV sales compared to other automakers could negatively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
General Motors reported a rise in EV sales, potentially boosting investor confidence.
The reported rise in EV sales for General Motors could positively impact its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Honda Motor Co reported a rise in EV sales, potentially boosting investor confidence.
The reported rise in EV sales for Honda could positively impact its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Hyundai Motor Company reported a rise in EV sales, potentially boosting investor confidence.
The reported rise in EV sales for Hyundai could positively impact its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Nissan Motor reported a rise in EV sales, potentially boosting investor confidence.
The reported rise in EV sales for Nissan could positively impact its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Tesla continues to lead in EV sales, delivering more than 889,000 EVs during the first half of the year.
Tesla's continued leadership in EV sales could positively impact its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Volkswagen more than doubled its EV sales to 26,538 units in the first half of the year.
The reported rise in EV sales for Volkswagen could positively impact its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60