Jim Cramer Turns From F-150 Lightning Fanboy To Skeptic After Price Cut: 'Bloom May Be Off EV Rose'
Portfolio Pulse from Shanthi Rexaline
Jim Cramer, host of CNBC’s Mad Money, has expressed skepticism about Ford's decision to cut the price of its F-150 Lightning electric pickup truck by 17%. He attributes this to the diminishing novelty of electric vehicles and raises concerns about a potential cost-cutting spiral. He also noted that prospective buyers are exploring options from other EV makers such as Tesla, Rivian, and General Motors. Cramer also criticized the timing of Ford's price cuts, which coincided with Tesla's announcement of producing its first Cybertruck.
July 18, 2023 | 10:21 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Ford's decision to cut the price of its F-150 Lightning electric pickup truck could potentially lead to a decrease in its stock price.
The price cut could be seen as a sign of weak demand for the vehicle, which could negatively impact Ford's revenues and profitability, leading to a decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
General Motors could potentially benefit from Ford's price cut as it could make GM's vehicles more attractive to potential buyers.
If potential buyers see Ford's price cut as a sign of weak demand for electric vehicles, they could turn to other manufacturers such as General Motors, which could boost GM's sales and stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Rivian could potentially benefit from Ford's price cut as it could make Rivian's vehicles more attractive to potential buyers.
If potential buyers see Ford's price cut as a sign of weak demand for electric vehicles, they could turn to other manufacturers such as Rivian, which could boost Rivian's sales and stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Tesla could potentially benefit from Ford's price cut as it could make Tesla's vehicles more attractive to potential buyers.
If potential buyers see Ford's price cut as a sign of weak demand for electric vehicles, they could turn to other manufacturers such as Tesla, which could boost Tesla's sales and stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80