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SVTPerformance's Chain of Restaurants
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<blockquote data-quote="Weather Man" data-source="post: 16871663" data-attributes="member: 137766"><p><h3>Ford drops prices on electric Mustang to follow Tesla's actions</h3><p>Jan. 30, 2023 8:58 AM ET<a href="https://seekingalpha.com/symbol/F?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AF" target="_blank">Ford Motor Company (F)</a><a href="https://seekingalpha.com/symbol/TSLA?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ATSLA" target="_blank">TSLA</a>By: <a href="https://seekingalpha.com/author/sa-editor-clark-schultz?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cbutton%3Aauthor_name%7Cfirst_level_url%3Anews" target="_blank">Clark Schultz</a>, SA News Editor<a href="https://seekingalpha.com/news/3929353-ford-drops-prices-on-electric-mustang-to-follow-teslas-actions#comments" target="_blank">17 Comments</a></p><p></p><p><img src="https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1362966857/image_1362966857.jpg?io=getty-c-w750" alt="Ford December Sales Plunge 17 Percent From A Year Ago" class="fr-fic fr-dii fr-draggable " style="" /></p><p>Justin Sullivan/Getty Images News</p><p></p><p>Ford Motor (NYSE:<a href="https://seekingalpha.com/symbol/F?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews" target="_blank">F</a>) lowered pricing on the electric Mustang Mach-E crossover by an average of $4.5K. The biggest price cut on a dollar basis of $5.9K was on the GT Extended Range version, while the Select RWD Standard Range version only saw a price reduction of $900. The price cuts follow shortly Tesla's (<a href="https://seekingalpha.com/symbol/TSLA?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews" target="_blank">TSLA</a>) reduction on the Model Y earlier in January.</p><p>The Detroit automaker expects to <a href="https://www.cnbc.com/2023/01/30/ford-mustang-mach-e-price-cut.html" target="_blank">increase</a> Mach-E production to 130K vehicles annually from 78K vehicles. However, the price cuts mean that not all Mach-E models will be profitable even at the larger scale.</p><p>"We are not going to cede ground to anyone. We are producing more EVs to reduce customer wait times, offering competitive pricing and working to create an ownership experience that is second to none," said Ford Chief Customer Officer Marin Gjaja.</p><p>In general, analysts have been very positive on the impact of Tesla's (<a href="https://seekingalpha.com/symbol/TSLA?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews" target="_blank">TSLA</a>) pricing cuts for the electric vehicle leader, while warning competitors could struggle to find profitability due to the macroeconomic backdrop. Earlier on Monday, Berenberg upgraded TSLA to a Buy rating and said the the price cuts fired off reflected the company's cost leadership strategy to nab market share.</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16871663, member: 137766"] [HEADING=2]Ford drops prices on electric Mustang to follow Tesla's actions[/HEADING] Jan. 30, 2023 8:58 AM ET[URL='https://seekingalpha.com/symbol/F?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AF']Ford Motor Company (F)[/URL][URL='https://seekingalpha.com/symbol/TSLA?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ATSLA']TSLA[/URL]By: [URL='https://seekingalpha.com/author/sa-editor-clark-schultz?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cbutton%3Aauthor_name%7Cfirst_level_url%3Anews']Clark Schultz[/URL], SA News Editor[URL='https://seekingalpha.com/news/3929353-ford-drops-prices-on-electric-mustang-to-follow-teslas-actions#comments']17 Comments[/URL] [IMG alt="Ford December Sales Plunge 17 Percent From A Year Ago"]https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1362966857/image_1362966857.jpg?io=getty-c-w750[/IMG] Justin Sullivan/Getty Images News Ford Motor (NYSE:[URL='https://seekingalpha.com/symbol/F?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews']F[/URL]) lowered pricing on the electric Mustang Mach-E crossover by an average of $4.5K. The biggest price cut on a dollar basis of $5.9K was on the GT Extended Range version, while the Select RWD Standard Range version only saw a price reduction of $900. The price cuts follow shortly Tesla's ([URL='https://seekingalpha.com/symbol/TSLA?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews']TSLA[/URL]) reduction on the Model Y earlier in January. The Detroit automaker expects to [URL='https://www.cnbc.com/2023/01/30/ford-mustang-mach-e-price-cut.html']increase[/URL] Mach-E production to 130K vehicles annually from 78K vehicles. However, the price cuts mean that not all Mach-E models will be profitable even at the larger scale. "We are not going to cede ground to anyone. We are producing more EVs to reduce customer wait times, offering competitive pricing and working to create an ownership experience that is second to none," said Ford Chief Customer Officer Marin Gjaja. In general, analysts have been very positive on the impact of Tesla's ([URL='https://seekingalpha.com/symbol/TSLA?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews']TSLA[/URL]) pricing cuts for the electric vehicle leader, while warning competitors could struggle to find profitability due to the macroeconomic backdrop. Earlier on Monday, Berenberg upgraded TSLA to a Buy rating and said the the price cuts fired off reflected the company's cost leadership strategy to nab market share. [/QUOTE]
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