Jim Cramer Sees A 'Breakout' For This Tesla Rival As Hybrid Sales Surge: 'I'm Urging People To Get Long This Thing'
Portfolio Pulse from Benzinga Neuro
Ford Motor Company (NYSE:F) has seen a significant 31.5% year-over-year increase in hybrid vehicle sales, with CNBC's Jim Cramer highlighting the stock as a potential investment opportunity. Despite challenges in the EV market, Ford's EV sales also rose by 80%, and ICE vehicle sales increased by 7.5%, contributing to an overall 10.5% increase in vehicle sales for the month. Ford plans to double the production of its F-150 hybrid pickup to support growth, amidst competition from Chinese EV manufacturers.
March 05, 2024 | 3:22 am
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Ford Motor Company's significant increase in hybrid and EV sales, along with strategic moves like doubling F-150 hybrid production, positions it for potential growth despite competition.
The reported surge in hybrid and EV sales, along with positive commentary from Jim Cramer and strategic initiatives like expanding charging infrastructure and doubling F-150 hybrid production, suggest a positive short-term impact on Ford's stock. However, competition from Chinese EV manufacturers and the broader EV market dynamics introduce some uncertainty, moderating the confidence level.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100