Legacy automaker Ford (F) is having some new trouble with the National Highway Traffic Safety Administration (NHTSA), and this time, the trouble is connected to Ford’s BlueCruise self-driving technology. Investors were unfazed, though, and sent shares up nearly 2.5% in Tuesday afternoon’s trading.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
The latest NHTSA investigation targeting Ford connects to the recent set of fatal accidents connected to the Mach-E Mustang recently. The Mach-E, according to TechTimes, was using BlueCruise, and as such, the probe into BlueCruise has expanded accordingly. The report noted that the government will now be looking more closely at various reports, as well as evaluations, to see if there are any other potential threats to drivers connected to the BlueCruise system.
Further, the NHTSA will stage an “engineering analysis” on BlueCruise, and there will likely be more parts of the investigation to follow. But with Ford apparently on the cusp of reporting Level 3 Autonomy—which indicates the vehicle can work on a “hands and eyes off” basis, TechTimes noted—there is every reason to get BlueCruise working to its fullest.
The Website’s a Winner
A report from Automotive News underscores a development that already seemed to be in the making for Ford, as J.D. Power declared Ford’s website to be one of the best in the industry. In fact, for “mass market automakers,” Ford was top of the heap. Tesla (TSLA), meanwhile, had the similar award for “premium automakers.”
With some signs suggesting that 2025 may mark the year Ford revamps its entire dealership system, having a highly useful, and very accessible, website may be key to these proceedings. J.D. Power certainly thinks Ford is there, so perhaps with some retooling, more customers can easily place orders for their next Ford via the website instead of the dealership.
Is Ford Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Hold consensus rating on F stock based on three Buys, eight Holds and three Sells assigned in the past three months, as indicated by the graphic below. After a 0.62% loss in its share price over the past year, the average F price target of $10.28 per share implies 1.2% downside risk.
