So, remember yesterday, when we talked about legacy automaker Ford (F) and its plan to bring in a new “chief of quality”? As it turns out, that job may be a lot simpler than some might think, as Ford brought home an unexpected accolade earlier. The news proved welcome to investors, who sent shares up nearly 1.5% in Friday afternoon’s trading.
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So according to a report from Ford Authority, Ford is now the number one name in brands that remain in operation to this day for the third quarter of 2024. Citing the Q3 2024 Automotive Market Trends Report from Experian, it was found that Ford had the largest number of brands that have the most vehicles still on the road, with 14.7% of vehicles still in service.
Immediately behind Ford here was Chevy (GM) at 13.4%, followed by Toyota (TM) at 12.9%. Then came Honda (HMC) at 8.4%and to round out the top five, Nissan (NSANY) at 5.9%. Ford is not new to this list, meanwhile, as back during the end of 2023, it also made its way onto the Experian list with 14.7% of the market once again.
Bargain on the Edge
Meanwhile, Ford is also looking to make a deal when it comes to the Ford Edge, a discontinued crossover series that proved attractive for many buyers. Ford Authority also pointed out that dealers are looking to make deals on the last of the Ford Edge stock, as its inventory is starting to run low. With Consumer Reports declaring them one of the best models for teen drivers, as well as one of the most reliable three-year-old SUVs around, there is plenty of reason to consider an Edge.
However, there are troubles elsewhere, as a 9to5Google report noted that the “Phone as a Key” feature of Ford devices may not be working with certain Android phones. The “Phone as a Key” feature is pretty much what the name implies, a way to unlock your car door with your phone. Ford itself is blaming “a recent Android 14 software update” for the issue, the report noted, though the report also noted that Android 14 has been available and stable for most of a year now.
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 14.18% loss in its share price over the past year, the average F price target of $10.89 per share implies 10.45% upside potential.
