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Ford says unlikely Mustang Mach-E EV will qualify for federal tax credits in January
By: Investing | December 6, 2023
(Reuters) -Ford Motor said on Wednesday it is unlikely Mustang Mach-E electric vehicles currently in dealer showrooms will qualify for federal tax credits beginning in January.
The U.S. Treasury issued guidance last week detailing new battery sourcing restrictions that take effect Jan. 1 aimed at weaning the U.S. EV supply chain away from China. The current model Mach-E currently qualifies for a $3,750 federal tax credit.
Ford (NYSE:F) has sold 35,908 Mach-E EVs in the U.S. in the first 11 months of the year, up 3.5% over the same period last year. In October, Ford said it was cutting some Mach-E production.
Ford also said in October it was postponing about $12 billion in EV investments, including delaying its second battery plant in Kentucky.
Ford also said in October it was temporarily cutting one of three shifts at the Michigan plant that builds its electric F-150 lightning pickup truck, citing multiple constraints, including supply chain issues.
Ford told dealers according to a bulletin seen by Reuters about the tax credit and said the expiriation is "an excellent motivator to purchase before the end of the year. This is a great time to reach out to customers in your pipeline to close the sale and ensure they are able to receive the credit."
Ford also told dealers that incentives for 2023 model Mach-E and F-150 Lightning sales and leases would be extended.
CarsDirect reported the EV tax credit news earlier.
General Motors (NYSE:GM) said Friday that it expects many of its electric vehicles to qualify for U.S. tax credits next year after new stricter rules limiting Chinese battery content take effect on Jan. 1.
In December 2021, Ford had said it expected to triple the output of its all-electric Mustang Mach-E to over 200,000 units per year by 2023 for North America and Europe.
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Ford's US vehicle sales slip 0.5% in November
By: Investing | December 4, 2023
(Reuters) -Ford Motor posted a 0.5% drop in U.S. new vehicle sales for November on Monday, as the automaker worked to restart some of its key plants following a lengthy workers' strike that impacted vehicle production.
Ford (NYSE:F) reached a deal with the United Auto Workers (UAW) union in late October, ending an over month-long strike the company said will cost it $1.7 billion. Sales also fell 5.3% in October, although analysts said the Detroit Three automakers had built up inventory in anticipation of the strike.
Ford's CFO John Lawler said in October restarting the plants would be complicated after the deal, which UAW workers ratified in November.
The automaker said in November that all its affected plants had been restarted.
Sales of Ford's electric vehicles jumped 43.2%, to 8,958 units from a year ago, the automaker said on Monday.
Sales of its trucks slipped 2.8%, to 78,971 units, for the same period.
The company reported total sales of 145,559 vehicles in November, compared with 146,364 units last year.
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Ford Motor stock pops on reinstated outlook, new UAW deal expected to cost $8.8 billion
By: Investing | November 30, 2023
Ford (NYSE:F) has reinstated its 2023 financial guidance, still anticipating adjusted Ebit in the range of $10.0 billion to $10.5 billion.
As a result, shares rose modestly in pre-market Thursday trade.
The Michigan-based automaker also disclosed that the new U.S. labor agreement with the UAW is projected to incur costs of $8.8 billion over the life of the contract.
“This industry is going through the biggest technology-led transformation we’ve ever seen and some companies, new and old, are going to be left behind,” Ford CFO John Lawler said.
“Ford+ is the right strategy to win – we’ve got a highly talented team that allocates capital with great discipline, so that we’re executing with consistency, generating strong growth and profitability, and are less cyclical.”
Within this, gross wages, accelerated wage progression, and cost of living adjustments are identified as the three largest components contributing to the total.
Furthermore, the labor pact's effect is expected to cost approximately $900 per vehicle by 2028.
Ford withdrew 2023 financial guidance in late October during the UAW strike of certain U.S. operations.
The company aims for adjusted free cash flow between $5.0 billion and $5.5 billion for the year.
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$0.15
What is Happening With Ford (F) Stock?
By: 24/7 Wall St. | November 12, 2023
It seems logical to believe that Ford ’s (NYSE: F) stock would recover from its plunge when the UAW was on strike. The strike may be over, but the shares are near a 52-week low. The problem is that investors believe Ford cut deals from which it will not recover.
The improved deal for workers will cost Ford billions of dollars in compensation over the next four years. This, in turn, will make it harder for Ford to invest in product development and the billions of dollars it planned to spend on EV expansion. But the problems are worse.
People are not buying Ford’s EVs, particularly its F-150 Lightning. Ford presumed the sales of the Lightning would rise into the hundreds of thousands, The gas-powered version has been the best-selling vehicle in the US for over four decades. Ford had a built-in market for the F-150 EV version it appeared. However, people do not want it. Rather, Ford’s success has been with the truck’s hybrid version.
There is a lingering belief that CEO Jim Farley and Executive Chairman Bill Ford have been poor stewards. They have been wrong about expense levels, as earnings statements have shown. They mispriced their EVs, which triggered many changes in what they charged customers. They have laid out an EV future that was too expensive and executed without any proof from the market that EV sales would surge.
Ford, it has started to appear, will be a gas-powered car company for years to come. The market is not ready to adopt EVs rapidly in general. People don’t like how long it takes to charge EVs, their short driving ranges, and the small number of charging stations. There are 125,000 gas stations in America, by contrast.
Ford is caught in its past; without any evidence, it has a road map for its future, while at the same time, its expenses have surged.
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Options Traders Continue to Target Ford (F) Stock After Bear Gap
By: Schaeffer's Investment Research | November 6, 2023
• Ford stock landed on Schaeffer's Senior Quantitative Analyst Rocky White's list of names that saw the highest weekly options volume in the last two weeks
• The stock is still recovering from its late-October post-earnings plummet
Ford Motor Co (NYSE:F) stock is sliding today, down 1.6% at $10.39 at last check, after Evercore ISI lowered its price target from $11 to $10. The stock has only recovered a portion of its steep post-earnings losses, dropping 12.3% on Oct. 27 after its disappointing full-year forecast. Since the start of the year, the equity is down 6.4%.
Meanwhile, options traders have been targeting the stock after the earnings event, as the equity found its way onto Schaeffer's Senior Quantitative Analyst Rocky White's list of names that saw the highest weekly options volume in the last two weeks. Per White's data, 1,716,369 calls and 1,449,704 puts have been exchanged within that period. The January 2025 9.35-strike put was the most popular contract during this time, followed by the weekly 11/3 10.50-strike call.
These options traders are in luck, too, as premiums are attractively priced at the moment. F's Schaeffer's Volatility Index (SVI) of 28% ranks in the low 5th percentile of its annual range, meaning options traders are pricing in low volatility expectations at the moment.
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Ford Motor $F Ugly chart, gap @ 10.80 might want to fill, still oversold
By: Options Mike | November 5, 2023
• $F Ugly chart, gap @ 10.80 might want to fill, still oversold.
More layoffs this weekend.
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I've been watching F for a while and I just jumped in for the first time under 10. Loaded up ad ready to go.
Total Debt (mrq) $142.66B $F
Ford Motor $F closed in the red for the 4th consecutive trading day and is now trading at its lowest price since January 2021
By: Barchart | October 31, 2023
• Ford Motor $F closed in the red for the 4th consecutive trading day and is now trading at its lowest price since January 2021.
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Government bail out to the rescue. Biden screw all of you at FORD.
The Ford-UAW settlement will significantly increase costs at the automaker, but also stops an extremely disruptive strike that was losing the company about $400 million per week.
By: Markets & Mayhem | October 30, 2023
• The Ford-UAW settlement will significantly increase costs at the automaker, but also stops an extremely disruptive strike that was losing the company about $400 million per week.
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Ford Motor Company $F Withdraws guidance... 52W low, long and not happy for a long time now...
By: Options Mike | October 29, 2023
• $F Withdraws guidance... what a mess for the big automakers...
52W low, long and not happy for a long time now..
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For the first time in almost 3 years, Ford Motor $F closed under $10
By: Barchart | October 27, 2023
• For the first time in almost 3 years, Ford Motor $F closed under $10
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Ford withdraws 2023 forecast, warns on EV results
By: investing | October 26, 2023
Ford Motor (NYSE:F) Co on Thursday withdrew its full-year results forecast due to the pending ratification of its deal with the United Auto Workers (UAW) union, sending shares of the company down 7% in after-hours trade.
The union and Ford on Wednesday reached a tentative agreement that included a 25% wage hike for 57,000 workers over 4-1/2 years, ending a strike at some of the automaker's biggest factories.
The total economic loss from the strikes at the Detroit Three automakers has reached $9.3 billion, consultancy Anderson Economic Group said earlier this week.
Ford's Detroit rival General Motors (NYSE:GM) on Tuesday withdrew its 2023 profit outlook due to the strike. Later in the day, the UAW expanded the strike to include the automaker's assembly plant in Texas that builds its profitable full-size sport utility vehicles.
Ford said third-quarter revenue rose 11% to $44 billion, with profit of $1.2 billion compared with a year-earlier loss of $827 million.
The automaker warned it may experience a higher-than-expected loss in its Ford Model e electric-vehicle business due to ongoing price wars.
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Ford Motor (F) earnings missed by $0.08, revenue fell short of estimates
By: investing | October 26, 2023
Ford Motor (NYSE: F) reported third quarter EPS of $0.39, $0.08 worse than the analyst estimate of $0.47. Revenue for the quarter came in at $44B versus the consensus estimate of $44.05B.
Ford Motor's stock price closed at $11.36. It is down -14.33% in the last 3 months and down -8.19% in the last 12 months.
Ford Motor saw 12 positive EPS revisions and 3 negative EPS revisions in the last 90 days. See Ford Motor's stock price’s past reactions to earnings here.
According to InvestingPro, Ford Motor's Financial Health score is "good performance".
Check out Ford Motor's recent earnings performance, and Ford Motor's financials here.
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Ford (F) shares rise a day after tentative deal with UAW
By: Investing | October 26, 2023
(Reuters) - Ford (NYSE:F) shares rose 3% before the bell on Thursday as the company's unionized workers were set to return to work following a tentative agreement between the automaker and the United Auto Workers (UAW) union guaranteeing a record wage hike.
Rival General Motors (NYSE:GM)' shares also rose 1% as analysts expected the automaker to follow Ford in reaching a deal that would end a strike at some of its most profitable plants.
The total economic loss from the autoworkers' strike has reached $9.3 billon, consultancy Anderson Economic Group said earlier this week.
The proposed deal between Ford and the UAW provides a 25% wage hike over the 4-1/2-year contract, starting with an initial increase of 11%.
GM and Stellantis (NYSE:STLA) have previously offered a 23% wage increase.
Stellantis' U.S.-listed shares were down 1.5% in premarket trading on Thursday as the automaker announced a $1.6 billion deal to buy a 21% stake in electric-vehicle maker Leapmotor (HK:9863).
Ford and GM shares trade 6.2 times and 4.3 times forward profit estimates, respectively.
The focus will now be on ratification by Ford's 57,000 UAW workers.
"We estimate the ratification will take 1-2 weeks. The process starts on Oct. 29 when the UAW Council votes to send the tentative agreement to members," said Wells Fargo analyst Colin Langan, adding that the deal will be a template for GM and Stellantis.
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Dump that Union scum and woke trash of a vehicle offering you got and produce a product people want to buy and can afford!
Resolution of the H/S pattern = $0!
Union Strike Reaches Ford's (F) Biggest Plant
By: Schaeffer's Investment Research | October 12, 2023
• Members of the United Auto Workers (UAW) union walked out of Ford's Kentucky facility
• Put traders are chiming in at double the average intraday volume
Ford Motor Co (NYSE:F) stock is down 2.5% to trade at $11.95 at last check, following news that 8,700 members of the United Auto Workers (UAW) union walked out of the car manufacturer's Kentucky plant as part of their strike. The facility is the biggest in terms of workers and revenue, with production of pickup trucks now halted.
A long-term floor at the $11.70 region is containing today's pullback, and Ford Motor stock still sports a 7.5% year-to-date lead. The shares have struggled to conquer the $12.90 level after cooling from their July 5, one-year high of $15.42, and are now facing pressure at their 20-day moving average.
Options bears are already chiming in, with 23,000 puts exchanged so far, which is double the volume that is typically seen at this point. Most popular by far is the November 12 put.
Those looking to weigh on F's next moves should consider options. The equity's Schaeffer's Volatility Index (SVI) of 32% sits in the 16th percentile of its annual range, meaning options traders are pricing in relatively low volatility expectations.
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people wonder why I talk so funny...................wellllllll after livin half mahh laff in the us of a...... it kinda grew on me
Ford Motor Co. $F $GM Dead money until strike resolved then we see how long and the damage.
By: Options Mike | September 30, 2023
• $F $GM Dead money until strike resolved then we see how long and the damage.
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