Ford Worried About Tesla's Cybertruck, Says Analyst After F-150 Lightning Price Slash: 'Now Both Models Start At...'
Portfolio Pulse from Shanthi Rexaline
Ford Motor Co. has reduced the prices of its F-150 Lightning pickup truck by up to $9,979, a move seen by Deepwater Asset Management analyst Gene Munster as a reaction to Tesla's Cybertruck. Munster believes Ford's price cut indicates concern about competition from Tesla, but does not expect it to impact Cybertruck sales due to the long waiting list for the Tesla vehicle. However, he sees the price cut as potentially negative for Tesla in the long term due to increased competition.
July 18, 2023 | 6:02 am
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Ford's price cut for the F-150 Lightning is seen as a reaction to competition from Tesla's Cybertruck. The move led to a drop in Ford's stock price.
Ford's decision to cut the price of its F-150 Lightning is seen as a response to competition from Tesla's Cybertruck. This move, interpreted as a sign of concern about the competition, led to a drop in Ford's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Despite Ford's price cut, analyst Gene Munster does not expect it to impact Cybertruck sales due to the long waiting list for the Tesla vehicle. However, he sees the price cut as potentially negative for Tesla in the long term due to increased competition.
While Ford's price cut is not expected to impact Cybertruck sales in the short term due to the long waiting list for the Tesla vehicle, it could potentially increase competition for Tesla in the long term, which could negatively impact the company.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80