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Ford To Halt F-150 EV Production For 7 Weeks Next Month
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Ford To Halt F-150 EV Production For 7 Weeks Next Month
Oct 31, 2024 11:51 AM

Ford Motor Company ( F ) shares are trading lower on Thursday.

The company is reportedly set to pause production of its F-150 Lightning from mid-November until the year's end, citing weaker-than-anticipated demand for the electric pickup, Automotive News reported.

Including the planned holiday downtime in December, Ford will halt the F-150 production at its Rouge Electric Vehicle Center in suburban Detroit from Nov. 18. The company has sold 22,807 units in the first nine months of 2024.

According to Reuters, Ford has been consolidating its electric vehicle ambitions. In August, it announced that it would scrap plans for a three-row electric SUV and delay the launch of an electric version of its top-selling F-150 pickup.

Ford's F-150 EV is not a money maker despite higher sales in 2024. According to this report, Ford is offering dealers up to $1,500 for each 2024 F-150 Lightning they order from new EV distribution centers.

According to Benzinga Pro, F stock has lost over 15.42% year-to-date. Investors can gain exposure to the stock via the First Trust Nasdaq Transportation ETF ( FTXR ) and the WBI Power Factor High Dividend ETF ( WBIY ) .

Is Ford Motor A Good Stock To Buy?

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Ford Motor's ( F ) page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. Ford Motor ( F ) does pay a dividend, which yields 4.89% per year as of the closing price on Oct. 31, 2024. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

For example, if you're looking to earn an annualized return of 17.18%, you'll need to buy a share of Cryo-Cell International by the Nov. 15, 2024. Once done, you can expect to receive a nominal payout of $0.25 on Nov. 29, 2024.

Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on Ford Motor ( F ) will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.

Price Action: F shares are trading lower by 1.67% to $10.30 at last check Thursday.

Also Read:

Uber Q3 Earnings: 31 Million Daily Trips, $1Billion Op Income, CEO Not Looking For Big M&A Deals, CFO Expects To Grow Organically

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