Ford must be doing something right. Bronco Essentially Sold Out for Years

Virtual-Chris

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There's no doubt that the entire world has been impacted by supply chain issues. Some are doing better than others at managing it.

It's hard to say if the MIC roof issues are covid related or the root cause is something else. It could be covid related, but it could also be a variety of other issues with supplier management.
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Like why haven't we gotten independent Bronco reviews yet? Most of the reviews I've seen are when the guy is sitting in the passenger seat with a Ford employee driving.
With another Ford employee in the back seat with a taser ready to zap the guy if he says anything bad about the Bronco.
 

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Please allow me to address the above quote plus a few others that you have made on different threads here about this same topic, because they all touch on the same point… your doubt that Ford can scale effectively to compete profitably in the electric vehicle marketplace.

Here are two other quotes…




I think you know by now that Tesla barely makes any money on its automotive sales. It has been well documented in the financial press that Tesla’s profits to date have largely come from the sale of regulatory tax credits, and recently from a sale of part of its Bitcoin holdings in treasury.

Nevertheless, you may want to educate yourself a little more about Ford’s specific EV strategy. The Deutsche Bank interview transcript that I posted earlier in this thread mentions the word “scale” more than 5 times, so you might find it interesting.

As the #21 company on the Fortune 500 list, Ford knows very well how to scale production, and it has made important strategic decisions about how best to do that profitably in the BEV marketplace. There is a very good reason why Ford is introducing BEVs in its Mustang brand, its F-150 brand, and its Transit brand, and it has to do with economies of scale and profitability. The best way to leverage economies of scale and profitability is to start with the largest and most profitable platforms as the base upon which to build.

To quote from the Deutsche Bank transcript…

Farley: “Look, 50% of these vehicles content is non-battery electric components. So scale will really matter. That's why we started with the number one van, the number one sports car, the number one pickup. Not only are we good at those vehicles, but we have huge scale when it comes to the 50% of the BOM that has nothing to do with being a BEV.”

[snip]

“All I know is we have the number one pickup truck globally that's going electric [F-150]. We have the number one van globally that's going electric [Transit] and in North America globally for both, and we have the number one sports car in the world going global and going BEV in the next six months [Mustang]. And so far, Mustang Mach-E is the only one out. And it’s completely sold out.”


To be frank, there is a reason why Tesla’s stock price has fallen in 2021 while Ford’s has risen dramatically, and it has a lot to do with: (a) Ford’s EV strategy, and (b) Tesla’s falling market share, which is now going directly to Ford and other competitors.

Don’t believe me? Check out the article below from Business Insider

Tesla's global market share fell to its lowest level in over 2 years as electric car competition heats up

Grace Kay, Business Insider, June 3, 2021
  • Tesla's market share of the global electric-car market fell to 11% in April.
  • The electric-car company's lead in the US is also narrowing, as Ford and GM build their own EVs.
  • Tesla's stock fell to its lowest level in three weeks following the news.
The first and last paragraphs of that article say, and I quote:

“Tesla's grip on the electric-car market is slipping.”

[snip]

“Tesla's loss has been Ford's gain. Ford shares have rallied almost 69% this year.”


Below is an actual chart comparing the two stocks for the year to date...

42B510EA-F3B8-4AEE-B316-8A82EBC1E9C5.jpeg


Bottom line: Farley is gunning for Musk — he wants very badly to take Musk down on his own battlefield — and Wall Street appears to be realigning accordingly.

Fellow Bronco lovers: If you care anything about investments, there is money to be made here, so invest wisely. 💰
It makes sense to gun for Tesla. They are winning the EV race big time.

They sold about 500,000 EVs in 2020. The nearest competitor, VW only sold about 220,000. And Tesla's sales are growing very rapidly. Ford's sales in this market are tiny.

Interesting to hear that Tesla is not making a high amount of profits. I like that a lot. Makes me more inclined to buy from Tesla. I think some automobile companies are over-charging for their products.
 

Razorbak86

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It makes sense to gun for Tesla. They are winning the EV race big time.

They sold about 500,000 EVs in 2020. The nearest competitor, VW only sold about 220,000. And Tesla's sales are growing very rapidly. Ford's sales in this market are tiny.

Interesting to hear that Tesla is not making a high amount of profits. I like that a lot. Makes me more inclined to buy from Tesla. I think some automobile companies are over-charging for their products.
Tesla's slice of the global EV market share dropped from 29% to 11% between March and April as more automakers flooded the space.

Tesla is also raising prices right now, because of recent cost increases.

Last but not least, a key member of the management team just bailed and is selling all of his stock on his way out the door...

Ex-Tesla president sold stock worth $274 million since June 10 - SEC filing
BY Reuters
— 9:45 AM ET 06/19/2021

BERKELEY, Calif., June 19 (Reuters) - Long-time Tesla Inc (TSLA) executive and president Jerome Guillen, who left the company earlier in June, has sold an estimated $274 million worth of shares after exercising stock options since June 10, according to a filing with the Securities and Exchange Commission (SEC).

The filing, which was submitted to the SEC on Tuesday, said that Guillen expected to sell 215,718 shares for $129 million that day, and that he offloaded 145,289 shares worth $89.6 million on June 14, and 90,111 shares worth $55 million on June 10.

Guillen, a former Mercedes engineer who was with Tesla since 2010, oversaw the company's entire vehicles business before being named president of the Tesla Heavy Trucking unit in March. He left the company on June 3.

The departure of Guillen, one of Tesla's top four leaders, including Chief Executive Elon Musk, has sparked market concerns about Tesla's future vehicle programs like the Semi electric truck and new batteries called 4680 cells.

Gordon Johnson, an analyst at GLJ Research, estimated that Guillen has cut his exposure to Tesla from 1.3 million shares a weak ago to about 150,000 as of Friday. "Should TSLA be on the verge of technological and autonomous breakthroughs and breakout 2Q21E deliveries/earnings, as well as EV domination, why has what many assumed was the second most important person at the company (i.e., Jerome Guillen) sold $274mn worth of TSLA stock," he said in a report.

"It could raise some eyebrows for investors," Wedbush Securities analyst Daniel Ives said, adding that investors are going to watch closely to see if he sells more.

Stock options give employees and executives the right to buy their company's stock at a specified price for a certain period of time. When share prices rise above the exercise price, they can buy the stocks at discounted prices.

It was not immediately known how much Guillen paid to exercise the options. (Reporting by Hyunjoo Jin, additional reporting by Jessica DiNapoli Editing by Sonya Hepinstalland Steve Orlofsky)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
 

Hack

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Tesla is actually raising prices right now, because of recent cost increases, and a key member of the management team just bailed and is selling all of his stock on his way out the door...
Car prices are really high right now. I'm not surprised if Tesla hasn't been making a lot of profit that they might have to raise prices due to cost increases. Other companies are raising prices of their cars even though they are making much higher profits.

Hmm, it might be a good time to buy Tesla stock if values are low due to many shares being sold.
 

Roundrocktx

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I have a Bronco on order, but I went to a dealer in Austin to check on upgrading my F-150 to an F-250. Since they are not making any deals and supplies are very limited, I thought I would custom order the F-250. To show me how desperate the situation is, the salesman pulled up a web site and scrolled down through several pages of F-150s' that are waiting on chip(s) that the dealer has on order. There was probably 15-20/page. I didn't see every page, but there may have been 5-6 pages

They can order a F-250 that I build. He they had quoted 5-6 months, but this was probably optimistic. He said to count on 6-7 months.

I asked how it would work if the truck came right at the end of the year or early in 2022. He surmised that it would still be a 2021. He guessed that they may not release 2022's until later next year. I don't think he know for sure. That doesn't sound right. If it takes 7-8 months for delivery, we are looking well into 2022.

I have a mid-second day, two door Bronco reservation. It may be a race to see which one gets here first, but my money would be on the F-250.
 

da_jokker

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There's no doubt that the entire world has been impacted by supply chain issues. Some are doing better than others at managing it.

It's hard to say if the MIC roof issues are covid related or the root cause is something else. It could be covid related, but it could also be a variety of other issues with supplier management.
Sounded like the primary issue now with the MICs is the labor force. Sonin a way, it could be covid related because people don't want to go back to work yet.

Multiple stories about businesses not being able to hire due to lack of applicants.
 

Razorbak86

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Wells Fargo Adjusts Price Target for Ford Motor to $18 From $17, Maintains Overweight Rating
BY MT NEWSWIRES — 06/21/2021

04:31 PM EDT, 06/21/2021 (MT Newswires) -- (MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 14.78, Change: +0.26, Percent Change: +1.79

Barclays Adjusts Ford Motor's Price Target to $17 From $15, Reiterates Overweight Rating

BY MT NEWSWIRES — 6:33 AM ET
06:33 AM EDT, 06/22/2021 (MT Newswires) -- Ford Motor Co. (F) has an average rating of outperform and price targets ranging from $11 to $18, according to analysts polled by Capital IQ.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 14.78, Change: +0.26, Percent Change: +1.79

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.
 

Razorbak86

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Mustang Mach-E GT, Performance Edition shatter Ford's targeted EPA-estimated ranges
Phoebe Wall Howard
Detroit Free Press

https://www.freep.com/story/money/c...ormance-edition-battery-range-epa/5318581001/

It's got range, baby.

This is about high-performance vehicles and distance on a battery charge.

The all-electric Mustang Mach-E GT and GT Performance Edition completed U.S. Environmental Protection Agency certification and crushed company goals, Ford Motor Co. announced Wednesday.

Ford revealed it had hoped to achieve an EPA-estimated range of 250 miles on a full battery charge but, instead, reached 270 miles with the GT. Meanwhile, on the GT Performance Edition, Ford was shooting for an EPA-estimated range of 235 miles but, instead, reached 260 miles.

What's the difference between the models?

The 0-60 mph on the Performance Edition is 3.5 seconds.

The 0-60 mph on the GT is 3.8 seconds.

By comparison, the 0-60 on the standard Mach-E ranges from 4.8 second to 6.1 seconds. Battery size in the vehicle plays a key role.

"More than half of our orders for the #MustangMachE GT have been for the Performance Edition," Ford CEO Jim Farley tweeted on Wednesday.



Farley, a competitive race car driver, told the Free Press months ago that he had ordered the Mustang Mach-E GT Performance Edition. He has earned a reputation over the years for appreciating speed and handling, on and off the track.

Demand for the Mustang Mach-E First Edition was sold out and orders have been steadily flowing for other non-GT models. Industry data shows the all-electric Ford vehicle is stealing customers from competitors.

Darren Palmer, Ford global director, battery electric vehicles, said in a news release on Wednesday that the company has had GT and Performance Edition orders come in from every state in the country.

"I'm really thrilled with what the team has achieved here," he told the Free Press. "It's not easy engineering a performance BEV (battery electric vehicle) as capable as this and with this much range."

Ford is careful to note that range results may be impacted by weather, driving behaviors, vehicle maintenance, lithium-ion battery age and health.

"Whether it's gallons of gasoline or hours of kilowatts, there’s a trade off between efficiency and performance," said industry analyst John McElroy, host of the "Autoline After Hours" webcast and podcast. "The faster you want to go, the more energy your car will consume. But it’s easy to predict which way hardcore Mach-E buyers will choose. They’ll go with the GT Performance models."

Mustang Mach-E GT and Mustang Mach-E GT Performance Edition will be available in Cyber Orange Metallic Tri-Coat exclusively, as well as Grabber Blue Metallic — previously available only on First Edition. Other colors include new Dark Matter Gray Metallic, Rapid Red Metallic Tinted Clearcoat, Star White Metallic Tri-Coat, Shadow Black, Iconic Silver Metallic and Space White Metallic.

“With Mustang Mach-E GT and Mustang Mach-E GT Performance Edition, we’re pushing the boundaries of what an electric vehicle can offer,” Dave Pericak, vehicle program director, said in a news release on April 26. “These Mustang Mach-E models not only give customers the added capability expected from the GT name, but the responsiveness of their electric powertrains will ensure they have a thrilling experience behind the wheel.”

Pumping horsepower

The GT has electric all-wheel-drive and permanent magnetic dual motors, including an upgraded secondary electric motor that powers the front wheels for a combined power output of 480 horsepower and 600 pound-feet of torque.

The GT Performance Edition pumps out 480 horsepower and 634 pound-feet of torque – the same horsepower as the Mustang Mach 1 performance coupe but with 214 pound-feet additional torque, Ford said.

"Mustang Mach-E GT Performance Edition delivers more torque, grip and better handling by drawing more power from its battery pack," Ford said in April.

The Mustang Mach-E GT starts at $59,900 and the Mustang Mach-E GT Performance Edition starts at $64,900 in the U.S., not including delivery fees. The company is scheduled to begin deliveries in the fall.

These and other all-electric vehicles qualify for up to $7,500 in federal tax incentives.

Contact Phoebe Wall Howard at [email protected] or call/text 313-618-1034.Follow her on Twitter @phoebesaid. Read more on Ford and sign up for our autos newsletter.
 

The Dmv

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This article from Motortrend says it all: https://www.motortrend.com/news/for...VN3_H2RML3a7d4erzy7VRMD4PGYmsNqTJuZ7iijCFB6Oc

Ford Bronco Sold Out for Years, Orders Pour in for F-150 Lightning and Maverick
All these reservations for Ford's hottest new products will take a while to fill.

Jun 18, 2021

Ford is having a good inning. It is hitting it out of the park with interest in four new vehicles: The 2021 Ford Bronco SUV, which is finally in production; the electric 2022 Ford F-150 Lightning fullsize pickup truck; the smaller 2022 Ford Maverick hybrid pickup truck; and the electric 2022 Ford E-Transit commercial van.

Reservations are strong, Ford CEO Jim Farley said during the Deutsche Bank Global Auto Industry Conference. Filling them all will take some time. A shortage of semiconductor chips means inventory is not expected to return to normal levels until 2022.

Ford Bronco Has Two Years Of Sales Orders
So far 190,000 customers have reserved a Bronco, the rugged SUV that has seen its launch delayed a number of times, and which has had to sort out an issue with the supplier of its hardtops. But production is underway to fill the 125,000 reservations that have been converted to orders, Farley says. The SUV is essentially sold out for two years.

Ford Pro Should Lure More Commercial Customers
Farley told investors that the automaker is concentrating on commercial customers. The company created Ford Pro, a global vehicle services and distribution business designed to increase uptime and reduce total cost of ownership for commercial customers, offering them more services.

Ford will offer Pro versions of vehicles, including the 2022 Ford F-150 Lightning Pro work truck. Contributing to the Lightning's low starting price is scale, sharing parts such as motors with the E-Transit, and developing new battery cells, to be built as part of a joint venture, that drop the cost from $100 per kWh to $80/kWh sometime after 2025.
Ford will also make money on services for commercial vehicles and plans to dramatically increase its supply of parts to service vehicles. But the biggest opportunity, Farley says, is increased commercial vehicle sales, where Ford already has 43 percent share in the U.S. The CEO said he thinks more customers will go from mixed fleets to Ford fleets. The automaker is also working on a commercialized autonomous vehicle business.


Ford Buying Electriphi
To further help commercial customers, Ford said it will acquire Electriphi, a California-based provider of charging and fleet monitoring software to help commercial customers ensure productivity by offering depot charging for EV fleets and help fleet managers monitor their vehicles. Depot charging adds to other options including charging at home or at public stations, the locations of which will be mapped in the vehicle's telematics system. Customers must sign up for Electriphi's charge management services.
The Ford+ plan under Farley is designed to guide the automaker's transition to electric vehicles that are better connected to their owners. Ford is spending $30 billion by 2025 on electrification efforts. Farley says Ford spending will be on par with anyone and will only go up.

Ford's Rosier Financial Picture
Because demand is so strong, Farley says second-quarter earnings will be better than originally forecast and stronger than a year ago. The financial picture has gotten rosier in recent months as costs have been lower and prices higher, which has helped the bottom line.

General Motors has also painted a rosier picture for the quarter, saying profits could be $4 billion higher than forecast, and GM will further increase its investment in EV and autonomous vehicle technologies to $35 billion through 2025 and add two more battery plants in the U.S. in addition to the two already under construction.
GM has said it plans to offer 30 new EVs globally by 2025, including the 2022 GMC Hummer EV full-size pickup truck and the 2023 Cadillac Lyriq mid-size crossover.
Ford is doing an awesome job. I can’t wait to get my make-believe Bronco. I reserved it almost a year ago and haven’t heard a thing about it even being considered for production. It will be the last product I ever order from Ford. They’re killing it up there In Michigan...customer satisfaction that is.
 

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The Mustang Mach-E GT starts at $59,900 and the Mustang Mach-E GT Performance Edition starts at $64,900 in the U.S., not including delivery fees. The company is scheduled to begin deliveries in the fall.

These and other all-electric vehicles qualify for up to $7,500 in federal tax incentives.

Contact Phoebe Wall Howard at [email protected] or call/text 313-618-1034.Follow her on Twitter @phoebesaid. Read more on Ford and sign up for our autos newsletter.
$60k to start for an electric SUV from Ford. Wow that's a lot. It should be in the 30s or lower to compete with gas. I guess for now they are still "special", which justifies a higher price?
 

Razorbak86

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$60k to start for an electric SUV from Ford. Wow that's a lot. It should be in the 30s or lower to compete with gas. I guess for now they are still "special", which justifies a higher price?
You’re looking at the GT edition, which is similar to a Bronco Badlands with Sasquatch package (very high level trim). The Select edition (akin to the lower-trim Bronco Base on the pricing totem pole) starts around $43,000 before the federal tax credit, and ends up around $36,000 after the tax credit.

BEB17881-C856-4807-97F5-F24DEDF36A25.png
 
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Razorbak86

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It makes sense to gun for Tesla. They are winning the EV race big time.

They sold about 500,000 EVs in 2020. The nearest competitor, VW only sold about 220,000. And Tesla's sales are growing very rapidly. Ford's sales in this market are tiny.
Update: UBS Adjusts Tesla's Price Target to $660 From $730 as China Demand Momentum Slows; Neutral Rating Kept
BY MT Newswires — 9:54 AM ET 06/29/2021
09:54 AM EDT, 06/29/2021 (MT Newswires) -- (Updated to add analyst commentary)

Tesla (TSLA) may be losing ground to Chinese electric vehicle brands, according to a UBS report, as demand momentum in the region slows for the U.S.-based carmaker and "competitors with a busier launch pipeline" are favored.

This could "trigger additional pricing action by Tesla and consequently lower gross margins," UBS noted, on top of ongoing delays in its Model Y launch in Europe and the adoption of full self-driving (FSD) capabilities. "New hard evidence is required," UBS said, "about Tesla's lead on the software/FSD side in order to see a better share performance."

UBS accordingly lowered its price target on Tesla to $660 from $730 [10% decrease] and maintained its neutral rating. The stock has an average rating of hold and price targets ranging from $150 to $1,200, according to analysts polled by Capital IQ.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 685.32, Change: -3.40, Percent Change: -0.49


Tesla's Target Price Got Cut By UBS. Here's Where The Better Opportunities Lie. -- Barrons.com
BY Dow Jones & Company, Inc.
— 11:53 AM ET 06/29/2021

Tesla remains the world-leader in electric-vehicles but is under increasing pressure in China, with better opportunities emerging among other auto makers for investors eager to play the growing trend, UBS said on Tuesday.

Analysts at the Swiss bank UBS cut their price target on Tesla TSLA stock by 10%, from $730 to $660, citing pressure in China, as well as delays to Tesla's self-driving product and launch of the Model Y in Europe.

"Our key concern shorter-term is that Tesla's demand momentum in China is slowing, and our checks on the ground suggest that BEVs [Battery Electric Vehicles] from domestic brands are gaining further ground vs. Tesla, which may trigger additional pricing action by Tesla and consequently lower gross margins," analyst Patrick Hummel said.

"The EV launches from competitors with high range, charging performance and attractive value-for-money, could continue to weigh on the value the market is willing to assign to Tesla's long-term growth," Hummel added.

In China, the pioneering electric-vehicle company led by Elon Musk faces stiff competition from domestic manufacturers like NIO NIO, BYD HK:1211, and XPeng XPEV, which all show strong positive momentum, UBS said.

Now that most of the major auto makers have decided to go all-in on electric-vehicles, with ambitious targets for new product lines a recurring theme among the world's largest car companies, UBS identifies four factors likely to drive outperformance in auto stocks.

They are: a strong EV sales curve, a crystallized portfolio value, excellent regional and segmental exposure, and an ability to pass on higher commodity prices.

Using these factors, the analysts at UBS found that Volkswagen, the EV leader in Europe and Tesla's fiercest competitor, and GM scored best.

UBS raised its target price for GM stock -- which it rates a buy -- to $79 from $75 [5% increase], with the target price for Volkswagen being EUR300 ($357). GM stock is currently trading around $59, while shares in Volkswagen were trading for more than EUR216 -- implying that both companies could provide attractive returns to investors.

South Korea's Hyundai KR:005380 is another company that could emerge as one of the best re-rating stories as the market comes to realize the value of its assets, UBS said. France's Renault FR:RNO and China's Li Auto LI rounded out the list of UBS' five most-favoured EV stocks. The bank also raised its target price on Ford F, which it rates neutral, to $16 from $13 [23% increase].

The team at UBS took a hard look at the industry landscape in the wake of its latest electric-vehicle consumer survey, involving more than 11,000 participants in the world's largest EV markets. The results show that "EV mass adoption is an unstoppable trend with rapidly accelerating momentum," the team concluded, with 43% of consumers likely to consider buying a fully-electric car -- up from 37% a year ago.

For the first time, fully-electric vehicles are preferred over plug-in hybrids, with keenness for EVs accelerating fastest among American consumers, UBS said. In the wake of the survey, UBS raised its sales forecast for China to 2.5 million EVs in 2021, up from 1.9 million, with a view that EVs will make up 20% of the car market globally by 2025 a 50% by 2030.

Tesla is still the "undisputed leader" in UBS' books. The recent consumer survey was "solid across the board for Tesla," Hummel said, though "momentum in the quarters ahead is likely more in favor of competitors with a busier launch pipeline."

In conclusion: Tesla's lead is shrinking, and investors would be well advised to seek out other opportunities for high-growth plays.

(END) Dow Jones Newswires
06-29-21 1153ET
Copyright (c) 2021 Dow Jones & Company, Inc.


UBS Adjusts Ford Motor's Price Target to $16 From $13, Maintains Neutral Rating
BY MT Newswires
— 7:45 AM ET 06/29/2021

07:45 AM EDT, 06/29/2021 (MT Newswires) -- Ford Motor Co. (NYSE:F) has an average rating of outperform and price targets ranging from $11 to $18, according to analysts polled by Capital IQ.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 14.96, Change: -0.23, Percent Change: -1.51

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.
 
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