Citigroup Keeps Neutral Rating on Ford Motor (F) After Target Cut

On May 4, Citi chopped its terms proposal connected Ford Motor Company (NYSE:F) to $13 from $13.50. It reiterated a Neutral standing connected the stock.

That aforesaid day, Ford reported that its US income for April fell 14.4% year-over-year to 178,667 vehicles. Sales of electrified vehicles dropped 31.1% to 19,413 units, and EV income were down 24.8% to 3,655 units, portion hybrid income declined 32.5% to 15,758. Trucks remained Ford’s largest category, with 100,459 units sold successful April. SUVs followed with 72,378 units, though some segments saw declines from past year. Car income were 1 of the fewer agleam spots, rising 18.4% to 5,830 units.

The F-Series pickup continued to pb Ford’s lineup with 62,048 units sold during the month, adjacent arsenic income slipped 14.7% from a twelvemonth earlier. The Explorer SUV managed a tiny gain, reaching 21,191 units. Higher lipid and state prices tied to the ongoing struggle successful the Middle East person added unit connected user spending. Buyers person besides remained cautious arsenic borrowing costs enactment high, and conveyance prices proceed to ascent crossed the US car market.

Ford Motor Company (NYSE:F) develops and sells Ford trucks, SUVs, commercialized vans, and cars, on with Lincoln luxury vehicles and connected services. Its concern is divided into Ford Blue, Ford Model e, Ford Pro, and Ford Credit.

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