Ford (F, $14.86) halting production in Michigan factory, curbing output in 8 other plants
Automaker Ford is reportedly suspending production at the Michigan factory. Also, it is reducing production at eight additional factories owing to the global semiconductor shortage.
The Michigan plant that makes the Bronco and Ranger pickup will be closed during the weeks of July 5 and July 26 (as reported in Bloomberg). It is not due to the chip shortage.
Ford is also limiting production at eight additional factories in July and August due to the global chip shortage. The company was diverting its scarce semiconductor supply to be used for completing nearly finished vehicles.
Ford’s Chief Executive Jim Farley revealed this month that the company had received 190,000 reservations for the Bronco, and around 125,000 had been converted to orders to build the new SUV.
F in upward trend: 10-day moving average crossed above 50-day moving average on July 02, 2024
The 10-day moving average for F crossed bullishly above the 50-day moving average on July 02, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 14 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
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Notable companies
The most notable companies in this group are Tesla (NASDAQ:TSLA), Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM), NIO Inc. (NYSE:NIO).
Industry description
Automobiles continue to be arguably the most popular form of passenger travel in the U.S., and major automobile makers have revenues and market capitalizations running into multi-billions. In recent years, the industry has been experiencing some path-breaking innovations like electric vehicles and self-driving technology. While there are long-standing companies like General Motors, Ford, and Toyota Motors operating in this space, there are also emerging/rapidly growing players like Tesla – which has had a major role in the growing popularity of the electric vehicle market. With technological advancements taking steam in the auto space, we’ve also witnessed collaborations (or talks of potential partnerships) of carmakers with tech behemoths like Google’s subsidiary, Waymo.
Market Cap
The average market capitalization across the Motor Vehicles Industry is 32.93B. The market cap for tickers in the group ranges from 2.49M to 559.85B. TSLA holds the highest valuation in this group at 559.85B. The lowest valued company is EVTGF at 2.49M.
High and low price notable news
The average weekly price growth across all stocks in the Motor Vehicles Industry was -5%. For the same Industry, the average monthly price growth was 1%, and the average quarterly price growth was -8%. BCAUF experienced the highest price growth at 14%, while GKIT experienced the biggest fall at -59%.
Volume
The average weekly volume growth across all stocks in the Motor Vehicles Industry was 42%. For the same stocks of the Industry, the average monthly volume growth was 13% and the average quarterly volume growth was 88%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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