Ford Alone Stumbles In New EU April Registrations, While Tesla And Hyundai Gain Ground
Portfolio Pulse from Anan Ashraf
Ford Motor Co (NYSE:F) experienced a 9.1% decline in new vehicle registrations in the EU in April, while Tesla Inc. (NASDAQ:TSLA) saw a 3% increase. Ford's market share in the EU also dropped by 0.7%. Despite this, Ford's U.S. sales rose by 4.2% due to the popularity of its SUVs. Tesla's total EU registrations for the year are down by 4%.
May 23, 2024 | 12:07 pm
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NEGATIVE IMPACT
Ford Motor Co (NYSE:F) saw a 9.1% decline in new vehicle registrations in the EU in April, with its market share dropping by 0.7%. However, U.S. sales rose by 4.2% due to the popularity of its SUVs.
The decline in EU registrations and market share is a negative indicator for Ford's performance in the European market. However, the rise in U.S. sales provides some positive offset. Overall, the short-term impact on Ford's stock is likely negative due to the significant drop in EU performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tesla Inc. (NASDAQ:TSLA) saw a 3% increase in new vehicle registrations in the EU in April, despite a 4% decline in total EU registrations for the year.
The increase in April registrations is a positive sign for Tesla's performance in the EU market, despite the year-to-date decline. This could lead to a short-term positive impact on Tesla's stock.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80