Recently, analysts have been pointing out a looming threat to Ford Motor Co. (NYSE:F) coming from its fierce competitor, General Motors (GM), in the electric vehicle domain.
A prominent analyst at Wedbush Securities, Dan Ives, highlighted that while Tesla (TSLA) remains the undisputed electric vehicle leader with an impressive 462,890 deliveries in the third quarter of this year, Ford’s sales figures of 23,509 EVs lag behind GM’s 32,095 units sold. This places Ford at a distant third among major U.S. automakers.
Ives acknowledged that GM may not surpass Tesla but emphasized that it is poised to maintain a significant lead over Ford in EV sales. Ford’s recent introduction of BlueCruise could potentially aid in narrowing this gap.
A Closer Look at Ford’s New Baja Raptors
Meanwhile, Ford’s Raptor truck has garnered praise from MotorTrend reviewers. However, prospective buyers eying a Raptor will need to dig deep into their pockets. The base model with a twin-turbocharged V6 engine starts at $61,995, while a version equipped with a Whipple supercharger V8 carries a starting price of $64,995. Premium models can even breach the six-figure mark.
Evaluating the Investment Potential of Ford Stock
On the investment front, Wall Street analysts have a Moderate Buy consensus rating on Ford stock, reflecting five Buy, nine Hold, and one Sell recommendation over the past quarter. Despite a 7.04% decline in its share price over the last year, the average price target of $12.82 per share suggests a potential upside of 24.86%, as illustrated in the image below.
Explore more analyst ratings for Ford’s stock here.
Investors can discern from these trends the shifting landscape in the automotive industry as traditional giants like Ford navigate the evolving terrain of electric vehicles, while also seeking to maintain their foothold in the fiercely competitive market.
