Followers | 679 |
Posts | 140793 |
Boards Moderated | 36 |
Alias Born | 03/10/2004 |
Sunday, October 28, 2018 10:01:54 AM
By: 24/7 Wall St. | October 27, 2018
Cox Automotive has posted its forecast of U.S. car sales for October. Overall, it expects unit sales to slide by 2% compared to October 2017. Among the nine manufacturers that dominate the America market, Ford Motor Co. (NYSE: F) is expected to have the largest drop, off 9.9%. It is another challenge to the Ford turnaround, which got a positive boost when the company announced earnings recently.
Because of trouble in other markets, Ford needs success in the United States. In October, unfortunately, its sales, expected to be 180,000, will be barely better than those of Toyota Motor Corp. (NYSE: TM) at 174,000 (down 7.7%) and Fiat Chrysler Automobiles N.V. (NYSE: FCAU) at 176,000 (up 14.8%). Ford’s market share is expected to fall to 13.6% from 14.8% in October of last year.
Market leader General Motors Co.’s (NYSE: GM) sales are expected to drop 9.4% to 229,000. Its drop off is further evidence of how well Fiat Chrysler will do compared to the overall market.
Investors drove Ford shares up almost 10% after earnings to $9. This is still well short of the 52-week high of $13.48. Revenue for the third quarter reached $37.7 billion, up from $36.5 billion in the same quarter of last year. Net income was $991 million, compared to $1.57 billion last year. North America was Ford’s strength for the period with revenue at $22.3 billion, up $1.4 billion.
Sport utility vehicle and light truck sales drove Ford’s North America success. Car sales fell. This will get worse as Ford withdraws several models from the market. In theory, this lowers revenue and improves the bottom line. That remains to be seen.
Ford cannot survive much more trouble in its home market. It has been slow with details about its turnaround and possible huge investments in autonomous and electric cars. Ford risks falling into the third or even fourth place among manufacturers based on sales. A 10% drop in October shows how deep that threat is.
Read More »»»
• DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
Recent F News
- Despite Record EV Production Numbers, Shortage of Battery Metals Looms • PR Newswire (US) • 04/22/2024 03:24:00 PM
- Despite Record EV Production Numbers, Shortage of Battery Metals Looms • PR Newswire (US) • 04/22/2024 03:23:00 PM
- Despite Record EV Production Numbers, Shortage of Battery Metals Looms • PR Newswire (Canada) • 04/22/2024 03:23:00 PM
- Apple to Invest $250 Million in Singapore Expansion, Oracle Commits $8 Billion to Japan Infrastructure, and More News • IH Market News • 04/18/2024 11:11:52 AM
- Paramount Global Board Shrinks, Morgan Stanley Faces Regulatory Probe, and More News • IH Market News • 04/12/2024 11:05:29 AM
- Costco Increases Dividend by 14%, Meta Introduces ‘Artemis’ AI Chip, and More News • IH Market News • 04/11/2024 11:24:54 AM
- Volkswagen, BMW, Ford, and Mercedes-Benz: Automotive Industry Updates for Q1 • IH Market News • 04/10/2024 11:56:37 AM
- Apple Terminates 614 Employees, Disney Unveils June Crackdown on Password Sharing, and More Updates • IH Market News • 04/05/2024 11:38:57 AM
- Ford Updates EV, Hybrid Plans, Readies Manufacturing Plants • Business Wire • 04/04/2024 12:30:00 PM
- Ford Motor Company Issues 2024 Proxy Statement, Announces May 9 as Date for Virtual Annual Meeting • Business Wire • 03/29/2024 01:05:00 PM
- GameStop Shares Tumble 20% in Pre-Market Trading Amid Revenue Decline, Direct Digital Plummets 42%, and More News • IH Market News • 03/27/2024 10:54:47 AM
- Cisco and Ford Motor Company Rollout Webex App for Productivity on the Move • PR Newswire (US) • 03/26/2024 03:00:00 PM
- Ford and Allego Partner to Electrify European Dealership Network with Ultra-Fast Charging • Business Wire • 03/26/2024 02:30:00 PM
- CFO Lawler to Affirm Full-Year 2024 Operating Guidance, Review Ford+ Growth Plan at BofA Auto Summit Today • Business Wire • 03/26/2024 11:30:00 AM
- Unilever Initiates Ice Cream Division Spin-Off and Announces Job Cuts; Berkshire Ramps Up Share Buyback Efforts, and More • IH Market News • 03/19/2024 11:33:10 AM
- Lawler to Discuss Customer-Focused Ford+ Growth Plan at Bank of America Securities Auto Summit • Business Wire • 03/12/2024 12:30:00 PM
- Oracle Soars 13% With Exceptional Growth and Boosts Nvidia Shares With Collaboration Announcement, and More • IH Market News • 03/12/2024 11:21:35 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 09:06:40 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/06/2024 09:01:20 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 10:46:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 10:45:49 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 10:45:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 10:45:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 10:44:50 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 10:44:32 PM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM
Avant Technologies Launches Advanced AI Supercomputing Network and Expansive Data Solutions • AVAI • Apr 23, 2024 8:00 AM
BestGrowthStocks.com Issues Comprehensive Analysis of Triller Merger with AGBA Group Holding Limited • AGBA • Apr 22, 2024 1:00 PM
Cannabix Technologies to Present Marijuana Breathalyzer Technology at International Association for Chemical Testing (IACT) Conference in California • BLO • Apr 22, 2024 8:49 AM
Kona Gold Beverages, Inc. Prepares for First Production Run Set to Launch May 17, 2024 • KGKG • Apr 22, 2024 8:30 AM