Ford's EV Sales Plunge 79% in August; Fathom Target Set at 100K
F sits 27% above its 52-week low of $11.11.
Summary
Ford's August sales show a sharp decline in electrified vehicles, with EVs down 79.4% year-over-year to just 2,197 units. The company is betting on the new Fathom midsize EV, targeting 100,000+ units in its first year with production starting next year at a Louisville plant and a ~$30,000 starting price. Separately, Ford agreed to a $2.3M EEOC settlement over racial graffiti at its Buffalo stamping plant, including three years of training and reporting. The EV slump underscores the challenge for the Fathom launch, while the settlement adds a compliance cost. Watch for further monthly sales data and Fathom production updates.
At the time of this announcement, F was trading at $14.14 on NYSE in the Manufacturing sector, with a market capitalization of approximately $56.4B. The 52-week trading range was $11.11 to $17.78. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Wiseek News.