A new report says that Ford Motor Co. (F) managed to break a record for sales in November even as a key item in the company’s lineup saw demand falter.
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Ford’s electric vehicles are selling briskly. In fact, Ford set a new record in electric vehicle sales for November. Sales during the month totaled 166,373 units, which was up 14% from a year earlier. However, Ford managed to break that record in an environment where demand was actually down for the F-150 Lightning electric pick-up truck.
Ford actually sold fewer of those trucks in November 2024 than it did a year earlier, selling 3,643 Lightnings against 4,393 in the same period of 2023. Ford’s other two electric models, the Mustang Mach-E and the E-Transit van, stepped in to pick up the slack, helping to boost overall sales.
Test Track Results
For fans of test track action, a new report says that the results from the Nurburgring test track in Germany are likely to be coming out soon. And the news for Ford looks pretty good. The automaker took a high-end Ford Mustang GTD out to the Nurburgring track and we are finally getting word about how well it performed.
The report noted that Ford will release the Mustang’s lap time on December 10. However, the early reports suggest that the prized lap time of under seven minutes may actually become reality for Ford. It will not be official until Ford announces the time, of course.
If Ford’s Mustang does turn in a sub-seven lap, it will beat the Chevy (GM) Corvette Z06, which could only pull off 7:10.52. That would be a real coup for Ford.
Is Ford Stock a Good Buy?
Turning to Wall Street, analysts have a Hold consensus rating on F stock based on four Buys, eight Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 7.32% rally in its share price over the past year, the average F price target of $11.29 per share implies 6.11% upside potential.
