Ford reported strong Q2 EV sales in the U.S., surpassing GM, with optimistic growth projections.

From NASDAQ: 2024-07-08 10:04:00

In the second quarter, Tesla outperformed analysts’ expectations by delivering 443,956 cars worldwide. Ford ranked second in U.S. EV sales, surpassing General Motors. Concerns like high prices and lack of charging infrastructure are overshadowed by the optimistic outlook for the EV market.

Ford reported robust Q2 EV sales in the U.S., with a 61% increase in deliveries compared to the previous year. Sales of popular models like Mustang Mach E and F-150 Lightning contributed to this growth, maintaining Ford’s lead over GM in the U.S. EV market.

Ford’s strategic initiatives focus on scaling EV production, leveraging digital capabilities for efficiency, and reducing battery costs. The company’s Ford Blue and Ford Pro units show significant growth potential, allowing for enhanced revenue generation and profitability.

Despite Ford’s current losses with the Model e unit, the long-term outlook remains promising. The company’s Ford+ plan, strong liquidity, and commitment to shareholder returns position it for success. Ford is trading favorably above its 50-day and 200-day averages, indicating a positive market sentiment.

Investors are encouraged to consider Ford at its current price levels for potential long-term returns. The company’s strong fundamentals, Value Score of A, and optimistic growth projections make it an attractive investment opportunity with a Zacks Rank #2 (Buy).



Read more at NASDAQ: Ford (F) Q2 US EV Sales Trail Only Tesla: Buy The Stock Now?