So the numbers are out for legacy automaker Ford’s (F) sales in February. The news, sadly, is not good as Ford’s sales numbers for the month are down substantially against February 2024’s numbers. And investors were not happy about the declining sales figures either, sending shares down nearly 1.5% in Monday afternoon’s trading.
Ford’s sales for February were down fully 9% against this time last year, reports noted, and the biggest slump was seen in the gas-powered division. Gas vehicle sales dropped about 13%, hitting 135,992 units sold. But the bright spot in the report was the electric vehicle numbers, which include both hybrid and full-electric vehicles.
Those sales were up about 23%, representing 22,683 vehicles total. Of these, hybrid vehicles outsold pure electric vehicles by better than two to one, with hybrids accounting for 15,357 and electric coming in at 7,326. While this was good news, it could not overshadow the fact that, this time last year, Ford had sold 174,192 total units. The cause behind the drop was unclear, though some could readily point to the rising costs of vehicles in general.
A Change to EVs?
Meanwhile, while Ford has pared back its interest in electric vehicle sales—it did not even sell 10,000 of them in February, after all—it is not giving up altogether. And new reports of a new patent recently unveiled suggests that there may be a new development coming to the Ford EV line, and it is one bright idea.
The patent describes an LED lighting system for electric vehicle charging cords, the report noted. With these lights—which could be readily added to the charging cable itself—certain features could be added to provide visual record of charging status. For instance, the lights could move along the top of the cable, demonstrating power going to the charge. The lights could change color as well, with a certain color meaning “fully charged.” Whether or not any of these will be used is unclear, but the possibility—and the patent—are in place.
Is Ford Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Hold consensus rating on F stock based on four Buys, eight Holds and three Sells assigned in the past three months, as indicated by the graphic below. After a 20.61% loss in its share price over the past year, the average F price target of $10.56 per share implies 13.06% upside potential.
