Ford Motor Company (NYSE: F) shares decreased 2.40% to $16.68 in trading on March 23 following the stoppage of factories in Germany.
Due to a lack of electronic components, Ford recently announced the temporary closure of two facilities in Germany. This placed pressure on prices, although trading concluded in the positive zone. The primary cause was the authorities’ findings on the range indicators of the F-150 Lightning electric pickups.
The EPA certification test runs outperformed what Ford Motor Company (F) promised in the flyers. The “basic” versions of the F-150 Lightning XLT and Pro pickup trucks have a range of around 370 kilometers on a single charge. The range of three extended battery variants (Platinum, XLT ER, and Lariat ER) exceeds 480 km.
These are respectable results for a large and heavy car, and the range for the “top” variants is around 30 miles longer than Ford anticipated. Most notably, the range performance outperformed one of the primary competitors – a pickup truck from Rivian Automotive INC (NASDAQ: RIVN). Ford can now leverage one of its primary advantages, range, in an advertising campaign now that the vehicles have been approved.
Previously, Ford Motor Company (F) declared a business division – the manufacturing of electric cars would get new infrastructure and significant long-term growth expenditures. Ford’s primary focus is on electric commercial vehicles, as the sale of compact trucks and vans accounts for a substantial amount of the company’s income. First and foremost, Ford opted to electrify the F-series trucks, which are the most popular automobiles in their class across the world.
Ford stock gained 0.60 percent in the last week but fell -3.53 percent in the previous month. This company’s stock has dropped -14.94% in the previous three months. The stock has risen 26.08% in the previous six months, with a year-to-date return of 37.40 percent. This stock’s year-to-date (YTD) price performance is presently negative, standing at -19.69 percent at the time of writing.