Ford Motor delivered 500,504 vehicles in the U.S. in the third quarter, including 20,962 all-electric vehicles and 34,861 hybrids. There is mostly good news and some bad news in those figures for investors.
Growth is part of the good news. Investors appeared to expect as much. Ford stock was down 0.4% on Wednesday, while the S&P 500 was down 0.1% and the Dow Jones Industrial Average was down 0.4%. That isn’t much of a move. The bad news is that Ford and GM really can’t touch Tesla yet. Tesla’s Model Y likely sold about 100,000 units in the U.S. in the third quarter. The Mustang Mach-E sold about 15,000. Ford, and all other traditional auto makers, have yet to produce a model that can sell like a Tesla.
About 4.1% of the cars Ford delivered were all-electric, up from about 3.9% a year ago. Ford probably would like to see its investment in battery-electric cars pay off more quickly.
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Source: CNBC - 🏆 12. / 72 Read more »