By now, it is clear that legacy automaker Ford (F) is out to no longer make “boring” vehicles, and a new report from Jalopnik says that Ford will be going even farther than that. The latest news says that Ford is out to be “…the Porsche of off-road vehicles.” Shareholders, meanwhile, found this a few steps too far and sent shares down over 3% in Wednesday afternoon’s trading.
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As part of Ford’s quest to get out of the boring vehicle market, it is apparently taking cues from Porsche in its off-road vehicle lineup. This will start with more off-road models in general, including giving the Tremor line access to more pickups and SUVs. And, Ford will also step up its presence in off-road races, including the Dakar race and King of the Hammer as well, the report noted.
The races will serve two purposes: one, they will be a proving ground for Ford vehicles, and the races will provide insight into what needs to change, design-wise, about Ford in the off-road market. Two, they will serve as a promotional tool. The more races Ford runs, and wins, the better it will be able to point to its lineup as a suggestion for off-road vehicle buyers. Even regular vehicles may get some improvement in this fashion as well.
Treating The Dealership Right
Ford’s issues with its dealers go back quite a way, but a new report from The Autopian indicates that Ford may be making some overtures to square things with those dealers. This is particularly true when it comes to electric vehicle charging systems.
Back during the pandemic, Ford set up a program with its dealers: the Model e dealership program. In order to get in on this program, and have electric vehicles to sell, Ford required dealers to buy charging equipment and install it accordingly. About 1,920 dealers out of about 3,000 total signed on, but then, Ford’s electric ambitions sputtered. Now, Ford is set to hand over $10,000 for every Level 3 charger installed, and $2,000 per vehicle for every EV retailed, up to $80,000 per charger.
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 5.13% loss in its share price over the past year, the average F price target of $10.28 per share implies 1.93% upside potential.
