9.01 +0.06 (0.67%)
Pre-Market: 5:27AM EST
|Bid||9.01 x 36900|
|Ask||0.00 x 45900|
|Day's Range||8.85 - 8.96|
|52 Week Range||7.41 - 10.56|
|Beta (3Y Monthly)||1.07|
|PE Ratio (TTM)||22.38|
|Earnings Date||Feb 4, 2020|
|Forward Dividend & Yield||0.60 (6.83%)|
|1y Target Est||10.16|
The Mustang Mach E electric sport utility vehicle Ford Motor Co unveiled in Los Angeles on Sunday is more than another car for the storied automaker. The Mach E has become within Ford a high-profile test for a restructuring that has been marred by profit warnings, costly quality problems and the troubled launch this year of another important vehicle, the Ford Explorer sport utility. For Chief Executive Jim Hackett, the Mach E's aggressive design and futuristic interior represent a long-awaited, visible sign of the overhaul of the company's product creation process he has tried to explain to skeptical Wall Street analysts for the past two years.
Ford is unveiling its first all-electric SUV, marking the start of an avalanche of battery-powered vehicles coming from mainstream and luxury automakers during the next two years that industry analysts say will boost electric vehicle sales.
(Bloomberg) -- Ford Motor Co. is reinventing one of its marquee models -- the Mustang muscle car -- as a battery-powered crossover to become a player in the electric-vehicle market that is expected to take off in the coming decade.In a splashy ceremony Sunday ahead of the Los Angeles Auto Show, the carmaker unveiled the Mustang Mach-E, a swoopy hatchback with distinctive pony-car haunches and familiar shark nose that it claims has the power to take on Porsche. When it goes on sale next fall, Ford hopes to convince mainstream buyers its electrified Mustang is an alternative to the Tesla models dominating the EV market.And Ford, which exited the battery-car business last year when it pulled the plug on its slow-selling Focus EV, is betting it’s cracked the code on turning a profit on plug-ins. By building the Mach-E in Mexico, where labor costs are low, and with a price starting at $43,895, the automaker says it will avoid the losses automakers typically suffer selling high-cost EVs.The Mach-E will make a profit “on vehicle one,” Ford Chief Executive Officer Jim Hackett told Bloomberg TV. “That’s surprising a lot of people because electrics have not had a history of making money. This will.”Hackett said it will turn a profit because the vehicle “creates the passion that follows with Mustang” and prices start in the mid-$30,000 when U.S. subsides on electric cars are factored in. “So it’s attractive to customers.”Ford is building it in Mexico because it had an open factory there and it needed to be overhauled to build an electric vehicle, Hackett said. “As we start to adopt more electric vehicles — we had capacity down there, we had no capacity in the United States — we’re going to have electric capacity here in the United States. They’ll be building other electric platforms.”Still, it’s a high-risk gambit. The Mustang is Ford’s signature sports car, having sold more than 10 million units since it debuted in 1964 with simultaneous cover stories in Time and Newsweek. When Ford decided to abandon the traditional passenger-car business last year, it spared only one model: The Mustang.New ConfigurationFor more than half a century, the Mustang has embodied high-octane power and unbridled strength. And Ford will continue to make gasoline-fueled versions of the classic muscle car.The Mach-E is not only the first electric version of the Mustang, it’s also the first time it has been configured into a sport utility vehicle. That will test the elasticity of a brand built on low-slung speedsters.“Calling this a true sports car would be stretching it,” said Jeff Schuster, senior vice president of forecasting for researcher LMC Automotive. “The market obviously has gone in the direction of the SUV body type, that’s what’s selling. But the Mustang is not an SUV. It’s been a sports car.”Ford, having struggled to sell more mundane electric cars, is embarking on a strategy to electrify its icons, starting with the Mustang and following quickly thereafter with a plug-in version of its top-selling F-150 pickup. It is part of $11.5 billion the automaker is investing to roll out 40 electric and hybrid vehicles by 2022. The idea is to show that Ford’s EVs can be fast and tough and are not just “compliance cars” intended to meet more stringent environmental regulations around the world.“We changed our whole strategy two years ago,” Ted Cannis, Ford’s global head of electrification, said at a briefing on the Mach-E at the company’s design studios in Dearborn, Michigan. “We said, ‘Let’s play to our strengths -- performance vehicles, pickups, vans, SUVs, the things Ford knows how to do.’”EV GrowthRegulations to curb emissions will drive demand for electric vehicles over the next decade, especially in China, the world’s largest auto market. In the U.S., where President Donald Trump has eased fuel economy rules, EV growth will be slower, but still strong. Sales of battery-powered vehicles will quadruple by 2025 to 809,537 models, accounting for 4.8% of the U.S. auto market, up from 1.3% now, according to LMC Automotive.New electric offerings will mushroom to 110 choices in the U.S. by the middle of next decade, from just 19 now, LMC predicts. Standing out in such a crowded field will be difficult, especially for Ford, which ranked fifth behind Toyota, Tesla, Honda and Nissan among consumers surveyed recently by CarGurus on which brand of electric vehicle they would consider buying.That’s a key reason Ford decided to affix the Mustang pony to the front of the Mach-E, which originally was conceived in 2017 as merely inspired by the sports car. But as Ford executives were shown design concepts by the small team working on the project, they kept asking for more Mustang influence. By early last year, the decision was made to call it a Mustang.Design Pressures“This had massive implications,” said Jason Castriota, brand director of battery-electric vehicles for Ford. “You can only imagine the amount of tension and strife this brought through the company.”That pressure was most acute on the engineers, who had to come up with a way to translate fossil-fuel fury into clean-running power from lithium-ion batteries.“When we realized we weren’t really doing a Mustang-inspired thing, we were doing a Mustang, the pressure ratcheted up,” said Ron Heiser, the Mach-E’s chief engineer. “We’ve got a lot of people in this company that are staking their engineering reputations that we’re delivering a Mustang.”Electric motors have some inherent advantages, such as immediate thrust. Heiser’s engineers placed them between the wheels fore and aft, which, combined with batteries configured like a skateboard beneath the car, create an even weight distribution. That allows the car to ride low and hug the road like a Mustang.Heiser says the base all-wheel-drive Mach-E can beat a Porsche Macan SUV from zero to 60 miles per hour, and he claims the 450-horsepower GT version comes “very, very close” to a Porsche 911 GTS. For those who miss the roar of a big V8, he says the Mach-E will have tunable technology to create an “authentic” sound.‘Back in the Game’The focus on performance should make the Mach-E “a more compelling alternative” to Tesla’s similarly priced Model 3 sedan, Dan Levy, a Credit Suisse analyst, wrote in a Nov. 14 report. “The ultimate proof point of its success will be if it can truly take battery electric vehicle share from the Model 3 -- far from guaranteed.”Ford won’t say how many Mach-Es it expects to sell annually, but it will be the only model built at the 4.3 million square foot factory in Cuautitlan, Mexico, that most recently was cranking out more than 100,000 Fiesta subcompacts a year.LMC Automotive predicts the Mustang Mach-E will top out around 50,000 sales annually by 2021.“This is the first step in getting back in the game for Ford, after being viewed as behind in this space,” Schuster said. “They need to have a solid launch with no quality issues and, from a driving standpoint, it has to live up to the name.”(Updates with more comments from Ford CEO Jim Hackett in sixth paragraph.)\--With assistance from Ed Ludlow and Will Davies.To contact the reporter on this story: Keith Naughton in Southfield, Michigan at firstname.lastname@example.orgTo contact the editors responsible for this story: Craig Trudell at email@example.com, Kevin MillerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The Mustang Mach E electric sport utility vehicle Ford Motor Co unveiled in Los Angeles on Sunday is more than another car for the storied automaker. The Mach E has become within Ford a high-profile test for a restructuring that has been marred by profit warnings, costly quality problems and the troubled launch this year of another important vehicle, the Ford Explorer sport utility. For Chief Executive Jim Hackett, the Mach E's aggressive design and futuristic interior represent a long-awaited, visible sign of the overhaul of the company's product creation process that he has tried to explain to skeptical Wall Street analysts for the past two years.
For the first time in 55 years, Ford is expanding the Mustang family, bringing the famous pony into the electric age with Mustang Mach-E, an all-new, all-electric SUV born of the same all-American ideals that inspired the best-selling sports coupe in the world. Ever since the original Mustang took the world by storm in 1964, it quickly came to represent the best of the American spirit: Freedom, progress, fast performance and a touch of rebellion.
The United Auto Workers union said on Friday that rank-and-file members at Ford Motor Co have voted in favor of a new four-year labor contract with the No. 2 U.S. automaker. Talks with FCA are expected to begin on Monday, a UAW spokesman said. The union said 56.3% of Ford's hourly workers voted to approve the deal, which allowed the company to avoid a strike like the one that cost its larger rival General Motors Co about $3 billion (£2.3 billion).
Ford Motor Company (NYSE: F ) and Nissan Motor Co. Ltd (OTC: NSANY ) are both recalling vehicles with potential fire hazards. Ford said Friday it was recalling more than 168,000 F-150 pickup trucks in ...
It's usually a mistake to bet against Elon Musk. The recent performance of Tesla (NASDAQ:TSLA) stock is a good example.Source: Sheila Fitzgerald / Shutterstock.com True, Elon Musk may say some wacky things and make some big mistakes. But in the end, he always seems to find ways to achieve his lofty goals.Earlier in the year, TSLA appeared to be in a bleak situation, and there was many questions about its outlook. How would it become profitable? Was its production system stable? And what about the departure of its high-level executives?InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Silver and Gold Stocks to Buy That Offer Contrarian Upside But Elon Musk relishes challenges. And since Tesla's third-quarter earnings report, TSLA stock has been a rocket, going from $254 to $350, putting its market cap at $63 billion.In Q3, TSLA posted a profit, which was a huge surprise. Musk noted that the company would have more profitable quarters soon.Elon Musk has been focused on bringing down costs and finding ways to increase the company's profitability through growth. In the meantime, demand for the Model 3 has been rising.According to InvestorPlace columnist Luke Lango: "Central to the long-term bull thesis on TSLA stock is that Tesla has been selling, still is selling, and will continue to sell more and more of its signature electric vehicles." The AI AdvantageThe competition is certainly getting more intense, as car makers like GM (NYSE:GM), Ford (NYSE:F), BMW, Volkswagen and Mercedes-Benz ramp up their own electric-car efforts. What's more, Tesla's foray into the Chinese market will meet with lots of resistance as well, since there are over 480 EV companies in the country!Granted, Tesla has some major competitive advantages. TSLA has a premium brand, a deeply loyal customer base, talented engineers and a strong Intellectual Property foundation.But Tesla's expertise in AI could be its biggest advantage. From its early days, the company built its cars with systems that collect enormous amounts of data,using sensors and over-the-air updates. As a result, it's been able to use much more powerful AI systems.A big part of Tesla's AI efforts, of course, occurred in conjunction with the creation of Autopilot. That system enables cars to automatically drive to designated locations. It also enables cars to park themselves. Finally, cars with Autopilots can be summoned with smartphones.To pull this off, Tesla has installed on-board computers with 40 times the power of prior systems and sophisticated AI.It's true that real autonomous driving is still not imminent. But Tesla is definitely aggressively trying to reach that goal. For example, the company recently acquired DeepScale, which is a cutting-edge developer of neural network systems.For the most part, DeepScale's focus is on solving the extremely tough problem of energy consumption with AI chips The Bottom Line on TSLA StockThe irony is that Elon Musk has said that AI is more dangerous than nuclear war! But then again, he has a tendency to exaggerate a great deal.But it's good to see a CEO who is freewheeling and creative. More importantly, AI will likely be a difference maker when it comes to the next-generation cars launched by TSLA. For now, Tesla's competitors are mostly playing catch-up.Tom Taulli is the author of the book, Artificial Intelligence Basics: A Non-Technical Introduction. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Silver and Gold Stocks to Buy That Offer Contrarian Upside * 7 Earnings Reports to Watch Next Week * 5 Online Retail Stocks to Buy on the Dip The post Why Artificial Intelligence Is a Secret Weapon for Tesla Stock appeared first on InvestorPlace.
Ford Motor Co. plans to introduce a new electric-powered sport utility vehicle on Sunday called the Mustang Mach-E. Ford (NYSE: F) said the all-electric Mustang Mach-E SUV will make its debut Nov. 17 at an event in Los Angeles that will be streamed. After the event, Ford said it will begin taking reservations for the new SUV, which goes on sale next year.
Tesla will face a key competitive test when Ford Motor unveils its Mustang-inspired Mach E all-electric vehicle on Sunday. The new vehicle is expected be priced between $40,000 to $50,000.
Ford Motor Co. issued three recalls Thursday, including 50,000 Lincoln MKX crossovers after three of those vehicles caught fire. The recall covers 2016-17 MKX models with 3.7-liter engines built from Nov.
Pickups form the largest share of the specialty equipment industry because they are simply a great platform for modification. The Specialized Equipment Market Association (SEMA) rated Ford Motor Company's (NYSE: F) F Series as the most customizable truck and its majesty, Fiat Chrysler Automobiles' (NYSE: FCAU) Jeep Wrangler as the winner of the SUV category.
While Japan's 1 carmaker Toyota (TM) misses fiscal second-quarter 2020 earnings estimates, its top peer Honda (HMC) surpasses the same.
Ted Cannis, Ford Motor Company’s global director of electrification, will speak at the Barclays 2019 Global Automotive Conference in New York on Thursday, Nov. 21.
Ford Motor Co will tag its new electric sport utility vehicle (SUV) with the Mustang name, the automaker said on Thursday, seeking to entice customers into a new era by linking it to the model whose groundbreaking design in the 1960s combined sportiness and affordability. Ford confirmed its new electric SUV will be called the Mustang Mach-E ahead of a debut event scheduled for Los Angeles on Sunday. Until now, the Mustang name has been used only on a line of sporty coupes associated with Detroit's 1960s muscle car era.
Ford confirmed its new electric SUV will be called the Mustang Mach-E ahead of a debut event scheduled for Los Angeles on Sunday. Until now, the Mustang name has been used only on a line of sporty coupes associated with Detroit's 1960s muscle car era. Customers in the United States, Canada and Europe can start ordering the electric vehicles on Nov. 17, Ford said.
In the ultra-competitive truck market, the Big Three are making it difficult for Nissan and Toyota to gain market share. Nissan has a plan to fix that, writes Eileen Falkenberg-Hull.
Greener and leaner transportation is a top priority for most industrialized countries currently, and smart solutions such as scooters, electric vehicles and bullet trains are quickly gaining popularity
Environmental group the Sierra Club on Tuesday urged automakers and dealerships to help cut U.S. carbon emissions and fight the climate crisis by making more electric vehicle available in U.S. showrooms. "It’s past time for the auto industry to put some action behind its promises of progress and work to tackle emissions from transportation," said Hieu Le, the report's primary author. The Sierra Club said its survey https://www.sierraclub.org/sites/www.sierraclub.org/files/press-room/2153%20Rev%20Up%20Report%202019_3_web.pdf of more than 900 U.S. dealerships found that 74% did not stock a single EV, but noted about 40% of dealerships in states that have adopted California's zero emission vehicle (ZEV) mandate had EVs for sale.
Nov.18 -- Ford has unveiled the Mustang Mach E, an all-electric SUV and next generation of the iconic mustang brand. Bloomberg’s Ed Ludlow reports from Los Angeles
Nov.18 -- Ford Motor Co. Chief Executive Officer Jim Hackett says the Mustang Mach E, an all electric sports utility vehicle, will be profitable from the first car. Hackett spoke to Bloomberg’s Ed Ludlow at the Mach E unveil event in Los Angeles.