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Ford (F) stock was is up over 2% in the pre-market. The spike is attributed to the new Bronco family for under $30,000 that can be a huge competitor to Jeep in 4 x 4 off-road expenditure.
As the coronavirus pandemic puts motor companies stock market trailing behind most other sectors, Ford Motor Company (NYSE: F) is trying to redefine the goals, put itself in a vantage point over the competitors and, as follows, reveals the design of a new ‘Bronco Family’. As a result, F stock value added 1.49% in the after-hours trading around $6.15. However, it closed yesterday at $6.06 with a loss of 0.66%. The uptrend continued in the pre-market as it recorded a rise of 2.48% to trade around $6.21. Worth noting the adverse impact on its core business by COVID-19, whereby its stock value has declined over 42% in the past one year. In addition, the F shares have shed 34.84% year to date. The performance might be weaker in the coming quarters if the conditions on the ground prevail, whereby the coronavirus cases are increasing by the day.
Ford Stock Bolstered by the Introduction of Bronco Family
Despite the overall negative performance of the ford stocks, the future looks to be changing as the company set to launch the 2021 Bronco family design. Ford has designed three models to compete with rival Jeep such as: Bronco sport, Bronco two-door, and Bronco four-door. The three models are designed to take off-road experiences to another level as the car manufacturer has incorporated cutting edge technology. With engines capabilities of delivering as required at different challenges, off-road enthusiasts are likely to go for the units.
Ford CEO Jim Farle stated:
“We created the Bronco family to elevate every aspect of off-road adventure and equipped them with class-leading chassis hardware and exclusive technologies to raise the bar in the rugged 4×4 segment and take people further into the wild”.
“They’re built with the toughness of an F-Series truck and performance spirit of Mustang – and come wrapped in one of the most stunning and functional off-road designs that’s true to the original Bronco design DNA”.
If the market reception will spike as the world slowly recovers from the coronavirus market shock, the chances that its stock market value will rise are higher. However, on a different side of view, if the company finishes all its bullet only on the ongoing coronavirus pandemic and its competitors play a wait and see the game, the chances of experiencing challenges ahead are increasing. Depending on its consumer reception during the pre and post COVID-19 period, the Ford market will heavily rely on the fundamentals in between.