A post-coronavirus US market recovery should help Ford. Sales cratered during the widespread pandemic shutdowns, but Ford's annual pace has bounced back to nearly 16 million. That's well off the near-records of 17-million plus from 2019 and 2018. Ford has shed slow-selling sedans and concentrated on large pickups and SUVs, vehicles that have been boosting average transaction prices to historic levels: nearly $36,000 in September,.
The carmaker plans to allocate "more capital, resources and talent to its strongest businesses and vehicle franchises," and you don't have to read between the lines to figure out that the truck-and-Mustang company is going to double down on trucks and Mustangs.Tesla CEO Elon Musk has seen his company's market cap roar past Ford's in 2020.Investors craving a new narrative will be disappointed, but Farley has a more serious concern on the horizon.
These CEOs would do better to focus on building a Safe, fuel efficient, functional, car than to focus on raising larger profits. When the public sees a family car that offers all those incentives profits will naturally follow & confidence as well in the product.
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