Ford shares rose about 140% last year following high-profile news about BEVs like the Mustang Mach-E and F-150 Lightning. And if you go back to 2020, when Jim Farley officially took over the company, shares are up 200 percent. This news puts rival carmakers like General Motors and Tesla Motors blush.
According to CNBCThe numbers make Ford the top-performing fleet in 2021, overtaking rivals General Motors, near-Strait resident Stellantis and other notable U.S. automaker Tesla. Investors were pleased with Dearborn’s new leadership under the leadership of industry veteran Jim Farley who took over in October 2020 after Ford’s board members grew fed up with the furniture maker, Jim Hackett, after three years of failing to move the needle on Ford’s modest stock.
Under Hackett, stock prices actually worsened despite efforts to grease the market with ambitious plans like Ford’s Corktown campus, including a revival of the iconic and abandoned Michigan Central Station. Everyone knows that stations don’t sell cars. In April 2020, Ford shares fell to their lowest level since January 2009.
Ford’s largest single-day stock rally came on December 10, when prices jumped 9.6% to an about 20-year high of $ 21.45 per share. The fanfare followed an announcement by Farley that Ford would triple production of the Mustang Mach-E to more than 200,000 vehicles per year in response to oversized demand in North America and Europe. Reservations for the F-150 Lighting also crossed the 200,000 mark in early December, prompting the company to announce earlier this week that it would double production of its first all-electric pickup truck.
Since Farley took control over 15 months ago, Ford stock has risen more than 200%. The impressive streak of performance is expected to continue if the company is able to implement its Ford + restructuring plan, which includes further acceleration of electric vehicle production plans and the development of more in-house products. While not in the BEV realm, we expect to see the unveiling of the S650 Mustang later this year, ahead of a 2023 launch.