Electric truck war heats up, Ford and General Motors share prices rise Reuters

© Reuters. File photo: Ford F-150 Lightning pickup truck unveiled at a press conference in New York City, USA on May 26, 2021. REUTERS/Brendan McDermid

Authors: Noel Randewich and Paul Lienert

DETROIT (Reuters)-Ford Motor (NYSE:) and General Motors (NYSE:) share prices soared on Tuesday as investors became more enthusiastic about their future electric pickup products.

After the Detroit automaker said it would double the production capacity of its hot F-150 Lightning electric pickup truck to 150,000 units, Ford’s stock price rose by more than 11%, reaching its highest level since 2001. The company said the model had attracted nearly 200,000 bookings before it arrived at US dealers this spring.

General Motors rose 7.3% the day before the public debut of the Chevrolet Silverado electric pickup truck, which will go on sale in early 2023. GM CEO Mary Barra will launch the Silverado EV at the Consumer Electronics Show in Las Vegas. Tesla (NASDAQ:) announced on Sunday that it had delivered 308,600 vehicles in the fourth quarter, breaking the 263,026 predicted by analysts. This also intensified people’s excitement about electric vehicles, which are Wall Street. One of the most popular investment themes. Tesla shares rose more than 13% on Monday, but fell 4.4% on Tuesday.

Ford is now up nearly 17% in two days, which is a strong start to the year following the 136% surge in 2021. General Motors has risen 12% in two trading days and has risen 41% last year.

Not all electric car makers on Wall Street received a boost on Tuesday. Rivian fell 0.8%, a 31% increase since the initial public offering in November. Lucid Group fell 4%, while Nio (NYSE:) fell 5%.

Even after Japanese automakers, GM stock has rebounded Toyota According to data released by Motor (NYSE:) Corp, its sales in the United States in 2021 surpassed General Motors, which marked the first time since 1931 that the Detroit automaker did not lead in the entire year of car sales in the United States.

Ford CEO Jim Farley told CNBC host Jim Kramer in early December that Ford had to stop accepting Lightning bookings.

Disclaimer: Converged Media I would like to remind you that the data contained on this website may not be real-time or accurate. All CFDs (stocks, indices, futures) and foreign exchange prices are not provided by exchanges, but by market makers, so prices may be inaccurate and may be different from actual market prices, which means that prices are indicative and not Suitable for trading purposes. Therefore, Fusion Media is not responsible for any transaction losses that you may suffer as a result of using this data.

Converged Media Fusion Media or anyone related to Fusion Media will not be liable for any loss or damage caused by relying on the data, quotations, charts, and buy/sell signals contained in this website. Please fully understand the risks and costs associated with financial market transactions. This is one of the most risky forms of investment.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *