Ford stock surges toward 2-decade high after plans to nearly double F-150 Lightning production

5 months ago 80
PR Distribution

Shares of Ford Motor Co. F, +4.81% jumped 1.8% toward a 21-year precocious successful premarket trading Tuesday, aft the car shaper said it plans to astir treble accumulation of its all-electric F-150 Lightning pickups astatine its Dearborn, Michigan installation to 150,000 trucks per twelvemonth to conscionable "soaring lawsuit demand." The institution said accumulation of the 2022 F-150 Lightning volition statesman successful the spring. On Thursday, Ford said the archetypal question of preservation holders for the Lightning volition statesman converting their reservations to orders, and volition beryllium invited to spot their bid implicit the adjacent fewer months. "With astir 200,000 reservations, our teams are moving hard and creatively to interruption accumulation constraints to get much F-150 Lightning trucks into the hands of our customers," said Kumar Galhotra, president of The Americas & International Markets Group. Separately, Ford said it volition triple accumulation for the Mustang Mach-E, with expectations to scope much than 200,000 units per twelvemonth by 2023. The stock, which is connected way to unfastened astatine the highest terms seen during regular-session hours since August 2001, has tally up 51.7% implicit the past 3 months, portion rival General Motors Co.'s banal GM, +4.33% has precocious 13.3% and the S&P 500 SPX, +0.64% has gained 11.5%.

Read Entire Article