Ford Motor Co
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Consumer Discretionary : Automobiles | Mid Cap Value
Company profile

Ford Motor Company is a global automotive and mobility company. The Company's business includes designing, manufacturing, marketing, and servicing a full line of Ford cars, trucks, and sport utility vehicles (SUVs), as well as Lincoln luxury vehicles. The Company operates in four segments: Automotive, Financial Services, Ford Smart Mobility LLC, and Central Treasury Operations. The Automotive segment primarily includes the sale of Ford and Lincoln brand vehicles, service parts, and accessories across the world. The Financial Services segment primarily includes its vehicle-related financing and leasing activities at Ford Motor Credit Company LLC. Ford Smart Mobility LLC is a subsidiary formed to design, build, grow, and invest in emerging mobility services. The Central Treasury Operations segment is primarily engaged in decision making for investments, risk management activities, and providing financing for the Automotive segment.

Closing Price
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0.07 (1.17%)
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UPDATE: Tesla stock tops $900, closes at record

4:21 pm ET June 8, 2020 (MarketWatch)

By Claudia Assis, MarketWatch

Model 3 demand in China 'a ray of light' for Tesla, analyst says

Tesla Inc. shares soared to a record close on Monday, benefiting from a risk-on sentiment gripping equity markets and a report that pinned the rally on vehicle sales in China.

Tesla (TSLA) stock gained more than 7% to a closing record of $949.92. That supplants a Feb. 19 all-time record of $917.42.

Related:Elon Musk vs. Bay Area officials: These emails show what happened behind the scenes in the Tesla factory fight (

Tesla shares are up 127% so far this year, and up 365% in the past 12 months -- they hovered around $200 just a year ago. The gains contrast with losses of 3.2% for Dow Jones Industrial Average and a flatish S&P 500 in the period, and compare with 12-month gains of 13% and 6% for the broader indexes.

"According to industry reports out of China this morning, Tesla appears to have seen a robust 'snapback of demand' for Model 3s in China, which is a linchpin to the bull thesis moving forward," analyst Dan Ives at Wedbush said in a note Monday.

See also: Tesla's Elon Musk gets performance-based payday worth nearly $800 million (

According to the initial reports, Tesla sold about 11,000 Model 3 vehicles in May in China, which would compare with less than 4,000 sold in April and "is a very strong indicator that demand in this key region is starting to ramp after an unprecedented soft macro backdrop and pandemic over the past few months," Ives said.

Demand for electric vehicles in China is starting to accelerate and Tesla is competing with a number of domestic and international competitors for market share, with the company's planned battery factory in China, dubbed Giga 3, a key part, the analyst said.

Strong Model 3 demand in China "remains a ray of light for Tesla in a dark global macro," Ives said.

Tesla has said it is possible to hit its goal to deliver more than half a million vehicles this year, which has met some skepticism on Wall Street.

Ives on Monday predicted deliveries around 400,000 in part due to the China trend and the ramp-up in deliveries of the Tesla Model Y, the compact SUV that is the newest vehicle offering for the Silicon Valley car maker. That number could prove to be "conservative," he said.

Tesla reopened its sole U.S. car-making factory in mid-May ( after wrestling a deal with local authorities in California. Chief Executive Elon Musk had reopened the Fremont plant in defiance of a local stay-at-home order to curb the spread of the coronavirus and after igniting Twitter and legal spats that prompted even President Donald Trump to chime in.

-Claudia Assis; 415-439-6400;

(END) Dow Jones Newswires

June 08, 2020 16:21 ET (20:21 GMT)

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