Ford (F:NYE) Follows Tesla and Cuts MRSP

Ford Cuts MRSP

The Ford Motor Company has reduced prices on its Mustang Mach-E electric vehicle (EV) in response to Tesla’s recent price cuts. Ford has cut prices on all six variants of the Mustang Mach-E, with the largest cuts being up to $6,000. The price cut brings the base model under the $55,000 limit for the IRA tax credit. Ford is also increasing production of the Mustang Mach-E to reduce wait times for customers. Existing customers will receive the new prices, while customers who purchased after January 1st of this year may receive a possible price adjustment. Ford has not specified the number of vehicles it plans to produce compared to 2023. In 2022, Ford sold 39,458 Mustangs Mach-E in the US, a 45% increase from the previous year.

MSRP stands for Manufacturer’s Suggested Retail Price, which is the suggested selling price set by the manufacturer for a new vehicle. This is the starting price point for negotiations between the dealer and the customer and can sometimes be higher than the actual price the customer ends up paying.

Ford’s Stock Forecast & Analysis

According to the average forecast from 10 analysts, the target price for Ford Motor Company stock is USD 15.50 over the next 12 months. The average analyst rating for Ford is “Buy.” Stock Target Advisor’s analysis of Ford is “Slightly Bullish,” based on 9 positive signals and 4 negative signals. The last closing price for Ford was USD 13.27. The stock has increased by +7.02% over the past week, +14.99% over the past month, but decreased by -32.09% over the last year.

Recent Analyst Coverage:

J.P. Morgan Chase & Co maintained Ford Motor Company’s rating as Overweight with a target price of USD 16 (up from USD 15) on January 25th, 2023. STA Research rated Ford as “Hold” with a target price of USD 12 on January 25th, 2023. Jefferies & Company downgraded Ford’s target price to USD 13 on January 20th, 2023.

About FordMC

Ford Motor Company is an American multinational automaker founded in 1903. It is known for producing popular vehicles such as the Ford F-150, Mustang, and Focus. Ford also operates in luxury brands such as Lincoln and has a significant presence in the electric and autonomous vehicle market. The company has a global reach with manufacturing and sales operations in North America, Europe, and Asia.

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