Editor’s Note: This story has been updated to correct the name of a Bernstein analyst who covers Ford.
Ford Motor Company (NYSE:F) stock is Trading lower on Thursday. Bernstein analyst Daniel Roeska downgraded Ford Motor Company from outperform to market perform, With an expected price of $11.
In an unrelated development, Ford revealed on Thursday that it is witnessing record growth in its sales in the Middle East in 2024, driven by strong performance in major markets and the launch of its new car. Latest collection yet.
The launch of the Mustang Mach-E and Territory Hybrid highlights Ford’s commitment to the future of electric vehicles in the region.
Kay HartFord’s International Markets Group President said that the Mustang Mach-E is Ford’s first all-electric vehicle in the region, describing it as one of the most exciting cars the company has ever produced.
Additionally, Ford confirmed that it is expanding its connected services offerings, with FordPass rolling out to customers in the Middle East in 2025.
“This success is due to the strong gains in market share achieved by our distributors in key countries such as the United Arab Emirates, Kuwait, Bahrain, Qatar and Saudi Arabia,” he said. Ravi RavichandranPresident of Ford Middle East.
Next year, Ford will accelerate the launch of Ford Connected services with FordPass first in the UAE, followed by Saudi Arabia.
This step reinforces Ford’s commitment to providing a better connected driving experience.
Ford is also strengthening its regional operations with the opening of a new parts distribution center in the UAE, scheduled to open in January 2025. This facility will allow for faster delivery of parts to distributors, ensuring faster service to Ford vehicle owners.
according to Benzinga ProF stock is up more than 8% in the past year. Investors can gain exposure to a stock by… First Trust Nasdaq Transfer ETF (NASDAQ: FTXR) and WBI Energy Factor High Dividend ETF (NYSE: WBIY).
Price action: F shares are trading up 1.79% to $10.99 at last check on Thursday.
Read next:
Image via Shutterstock.
|
date |
firm |
an act |
from |
to |
|---|---|---|---|---|
|
February 2022 |
Wells Fargo |
He maintains |
Weight gain |
|
|
February 2022 |
Morgan Stanley |
He maintains |
Weight loss |
|
|
February 2022 |
Credit Suisse |
He maintains |
excels |
View more analyst ratings for F
View the latest analyst ratings
Comments are closed, but trackbacks and pingbacks are open.