Ford set a record for vehicle recalls in the first half of the year, recalling more cars than produced in the previous year. The company has invested around $30 billion in electric vehicles, yet sales of models like the Mustang Mach-E and F-150 Lightning have been disappointing. CEO Jim Farley acknowledges that competition from Chinese EV makers presents a serious threat. Additionally, Wall Street analysts have set a target price for Ford stock below its current trading level, indicating a lack of confidence in the company’s prospects.
Ford set a new industry record for vehicle recalls in the first half of the year, surpassing both its entire 2023 total and last year's production numbers.
Despite nearly $30 billion invested in electric vehicles, Ford's EV sales, including the Mustang Mach-E and F-150 Lightning, remain sluggish, with rising competition from Chinese manufacturers.
Wall Street's average target price for Ford stock is now below its current trading level, reflecting significant investor skepticism regarding the company's strategy and profitability.
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