“Fastest American car.” Legacy automaker Ford (F) can now add that accolade to its lineup after the official results came out about its run at the track at Nurburgring. The build-up had been a long time coming, and now, we have the results. We figured that Ford beat the seven-minute run, and indeed, it did. Investors were modestly pleased and sent shares up fractionally in Tuesday afternoon’s trading.
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We knew that Ford had been playing this one close to the vest for weeks, but the results are finally out, and the Mustang GTD managed to clear the seven-minute mark for a lap at Nurburgring. The GTD came in with a lap time of six minutes and 57.685 seconds. It is the first and only car from the United States to turn in a sub-seven-minute time at Nurburgring and is one of just six cars in general, worldwide, to break that mark.
Earlier, the closest that any car had come to reach that from the United States, noted a Motor1 report, was a Viper ACR from Dodge (STLA), and the Mustang GTD managed to beat that time by 4.3 seconds. Moreover, the Mustang GTD managed to beat the lap times of the Ferrari (RACE) 296 GTB and the Lamborghini Aventador SuperVeloce. It was a match for the Porsche 918 Spyder as well. But right now, the top slot at Nurburgring, with a time of 6:29.09, is the Mercedes-AMG One, and the Mustang has a long way to go to reach that time.
New Controls and Crazy Repairs
Meanwhile, Ford also took a step back into the mid-2010s, as Wear OS users can now have Ford controls on their smartwatches. This is a development that has not been seen in some time, as the MyFord app came out back in 2015 but was largely decommissioned in favor of the FordPass app instead. Now, Wear OS users will get access to the FordPass app themselves, noted 9to5 Google.
Then, CarScoops gave us one last shot of news for Ford, with a recent car repair on a 2019 Ford Fusion sedan. The air conditioning went out, and the dealership handed over a staggering estimate: $9,152.25 to fix it. That alone would be terrifying…until you consider that the car itself has a trade-in value of $9,071, making the air conditioning worth, somehow, more than the car itself.
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 two Sells assigned in the past three months, as indicated by the graphic below. After a 3.09% rally in its share price over the past year, the average F price target of $11.04 per share implies 4.1% upside potential.
