Core Insights - Ford Motor Co. is the second largest automaker in the U.S., experiencing a recovery in inventory due to easing supply chain issues, but its stock has underperformed, down 16% [1] - The company is committed to its electric vehicle (EV) strategy despite projected annual losses of $1.5 billion in this segment [2][3] - Ford's Q3 2024 results showed an EPS of 49 cents, beating estimates, with revenues up 5.5% YoY to $46.2 billion, driven by new truck and SUV launches [4] Financial Performance - Ford Pro's commercial motor and EV vehicle revenues rose 13% YoY to $15.7 billion, with EBIT of $1.8 billion and a margin of 11.6% [5] - The Model E segment reported an EBIT loss of $1.2 billion, with cost improvements of $500 million offset by pricing pressures [6] - For 2024, Ford expects adjusted EBIT of $10 billion, with a projected loss of about $5 billion from the Model E segment [7] Market Position and Strategy - Ford's North American volume grew 8% YoY, increasing its U.S. market share by 40 basis points to 12.6% [4] - The company anticipates launching approximately 150 new EV nameplates in North America by the end of 2026 [3] - Ford's stock has an average price target of $11.83, indicating a potential upside of 22.5% [11]

Core Viewpoint - Ford's stock performance in 2024 has been disappointing, with shares down 19% and a total return loss of 13%, significantly underperforming the S&P 500's 25% return [1] Group 1: Positive Aspects - Ford's Pro segment, which serves business customers, has shown remarkable revenue growth of 19% year over year over the last nine months, outperforming the overall business [2] - The Pro segment also boasts an impressive third-quarter operating margin of 11.6%, indicating strong profitability [3] - Ford's current valuation is attractive, with a forward price-to-earnings ratio (P/E) of 5.7, significantly lower than the S&P 500's 21.4, suggesting a depressed valuation [4] - The dividend yield stands at 6.21%, appealing to income-seeking investors and providing ongoing payouts for current shareholders [5] Group 2: Negative Aspects - Despite the success of the Pro segment, Ford's overall growth remains low, with a third-quarter 2024 revenue of $46.2 billion only 25% higher than five years ago, indicating a mature auto industry [6][7] - The Model e division, focused on electric vehicle sales, is struggling, reporting a $3.7 billion operating loss in the first nine months of 2024, adding to a $4.7 billion loss in 2023 [8] - Ford lacks an economic moat, with a low return on invested capital (ROIC) of 1.8%, compared to the S&P 500 average of 10%, raising concerns about its competitive position [9] - The automotive industry is capital-intensive, requiring significant investment in research, development, and labor, making it less attractive for prospective investors [10] - Ford's disappointing track record for shareholders suggests that the stock may be best avoided [11]

Core Viewpoint - The analysis indicates that Ford Motor Company has maintained its dividend at the same level despite previous warnings about its sustainability, suggesting a cautious outlook on the company's financial health [1]. Group 1 - The last review of Ford Motor Company was over two years ago, with a "Sell" rating issued at that time [1]. - The company has not made any changes to its dividend, which raises questions about its future financial stability [1].

Core Insights - The article discusses the investment landscape and the potential opportunities within specific stocks mentioned, emphasizing the importance of thorough research before making investment decisions [1] Group 1 - The author, Parkev Tatevosian, CFA, has no position in any of the stocks mentioned, indicating an unbiased perspective [1] - The Motley Fool, the platform associated with the author, also has no positions in the stocks discussed, reinforcing the neutrality of the analysis [1] - There is a disclosure policy in place, suggesting transparency regarding any potential conflicts of interest [1]

米斯兹之子 成就新汽车人 l B 0 ala E L I 规 跨 实 战 জ 野 界 国 / 推 虽然销量仍处在增势，但仍远低于2015-2019年美国车市的水平，当时的年销量经常超过1700万 辆。 去年，输赢明显。通用汽车、丰田汽车公司、福特汽车公司、本田汽车公司、现代汽车集团、捷豹 路虎、马自达和三菱等主要汽车制造商的市场份额有所增加，而Stellantis、特斯拉、梅赛德斯、极 星和沃尔沃的市场份额下降最多。 混动超电动 混合动力汽车为市场提供了巨大的推动力。丰田、福特和本田等品牌的汽油电动动力系统轿车和轻 型卡车销量创下了历史新高。现代和起亚在创下历史新高后，正努力进一步提高混合动力汽车产 量，同时推出新的电动汽车。 编 译 / 周 洲 设 计 / 赵昊然 来 源 / Automotive News,by David Phillips；Car Pro，by Jerry Reynolds 2024 年，美国轻型汽车销量继续复苏，但速度较慢。 刚刚过去的一年，美国市场共销售了1603.5万辆新车和轻型卡车，增长了2.5%，其中第四季度表现 强劲，增长了7%。这是自2019年之后，美国市场销量终于又一次回 ...

Core Viewpoint - Ford is one of the largest automakers globally, and its stock performance is under evaluation for the year 2025 [1] Group 1 - The stock prices referenced were from the afternoon of January 8, 2025 [1] - The video discussing Ford's stock was published on January 10, 2025 [1]

Core Insights - Dividend stocks provide reliable passive income and can be less volatile than growth-focused investments [1] - Companies with high dividend yields must demonstrate the ability to maintain and grow dividends [1][2] Verizon - Verizon offers a 6.96% dividend yield and has consistently grown its dividend since 2005 [3] - In the first nine months of the year, Verizon paid out approximately 65% of its earnings in dividends, with earnings falling by about $1.8 billion compared to the same period in 2023 [4] - The company generated $14.6 billion in free cash flow, indicating sufficient capacity to cover and potentially grow the dividend [4] - Verizon aims to increase its fiber-optic internet market share and has added 2.2 million subscribers through the acquisition of Frontier Communications [5] Pfizer - Pfizer has a 6.4% dividend yield and has steadily grown its dividend since 2010 [6][7] - Analysts project that Pfizer's free cash flow will adequately cover the dividend in the coming years, with management committed to maintaining and growing the dividend [8] - Pfizer is focusing on developing new drugs, particularly in oncology, and acquired Seagen for $43 billion to enhance its pipeline [9] - Management anticipates that Seagen could generate $10 billion in revenue for Pfizer by 2030 [9] Ford - Ford pays a 6.14% dividend, but its dividend history is more volatile due to the cyclical nature of the auto industry [10] - Management aims to return 40% to 50% of free cash flow to shareholders, with expected free cash flow of $8 billion and $9 billion in 2025 [11] - Ford's stock faced challenges in 2024 due to vehicle recalls and warranty costs, but management expects improvements in electric vehicle earnings by 2025 [12][13]

Ford's Stock Performance in 2024 - Ford's stock declined by 18% in 2024, while General Motors' stock jumped by 48% [1] - The decline in Ford's stock was driven by multiple challenges, including quality issues, high warranty costs, and struggles in the EV market [9] Quality and Warranty Issues - Ford has led the US auto industry in recalls for three consecutive years and may continue in 2024 [2] - Warranty expenses increased significantly, with $2 billion in Q2 2024, representing 4% of sales, up from an average of 1.6% between 2011-2019 and 2.9% since 2022 [4] - Higher warranty costs contributed to a 26% decline in operating profit to $2.8 billion in Q2 2024, below Wall Street estimates of $3.7 billion [3][4] - Ford has been working to address quality issues, but the impact of newer models on recalls and warranty costs will take time [5] Electric Vehicle (EV) Challenges - Ford's EV division, Model-e, is expected to post a $5 billion loss in 2024 [6] - The company faces significant costs in developing its EV lineup [6] Struggles in the Chinese Market - Ford is facing growing challenges in China, where new-energy vehicles (EVs, plug-in hybrids, and hybrids) now dominate over half the market [7] - The Chinese EV market is in a brutal price war due to intense competition and government subsidies, making it difficult for foreign automakers, except Tesla [8] - Ford may need to reconsider its strategy in China, potentially including a complete exit [9] Summary of Ford's Challenges - Ford's 18% stock decline in 2024 reflects multiple issues: quality and warranty costs, EV development challenges, and struggles in China [9] - While these problems are fixable, they require time and strategic adjustments [10]

成就新汽车人 视 野 跨 男 球 战 际 E / 推 O 为避免被罚, 欧洲车企攒了俩碳排放联盟 汽车制造商希望在电动汽车销量未如预期增长的情况下避免 碳罚款，保护自身利益 编译 / 钱 亚 光 设计 / 师 超 来源 / w w w. a u t o n e w s. c o m , e u l e r p o o l . c o m , w w w. w i w o . d e "团结就是力量（"Unity is strength'）"——这一说法对汽车制造商来说已如此亲切，以至于有些制造商决定将其付诸实践。 事实上，他们已开始建立了"碳排放池（CO 2 pooling）"联盟，电动汽车销量较少的公司与电动汽车领先企业"联合"，从竞争对手那里购买碳积分，以降 低其总体排放平均值，共同应对欧盟针对二氧化碳排放的罚款。 1月1日，欧盟大幅降低了汽车二氧化碳排放上限，大多数汽车制造商今年需要电动汽车至少占其总销量的 20%，否则将面临巨额罚款。 2021年开始，欧盟为制造商设定了其在欧盟销售车队的二氧化碳排放量上限，迄今为止这一数值为每辆车每公里115.1克二氧化碳，到2025年将降至93.6 克，到2030年 ...

Company Performance - Ford Motor's operations in China earned approximately $600 million in 2023 despite challenging market conditions [1] - CEO Jim Farley highlighted that Ford is one of the few automakers making a profit in China [1] Market Strategy - Ford's earnings in China include revenue from exporting vehicles like the Lincoln Nautilus, which is exclusively produced in China for markets such as the US [2] - The company has been implementing an "asset-light" strategy in China, which has been previously emphasized by Farley [2] Industry Context - China remains a challenging market for automakers, particularly for Western legacy companies like Ford and General Motors [2]