Ford stock fell by close to 8% on Tuesday, following the company's Q3 earnings report. Now revenues were better than expected coming in at $43 billion, up 5.5% year-over-year, earnings stood at $0.49 per share, slightly ahead of estimates and up $0.10 compared to last year.
Ford (F) is halting production of its all-electric F-150 Lightning pickup truck for at least several weeks as it faces softening demand for its electric vehicles, according to a Wall Street Journal report.
Ford said it will temporarily pause production of the electric F-150 Lightning for several weeks amid sluggish consumer demand for EVs, as the company continues to reassess EV plans.
Ford will pause production of its F-150 Lightning electric pickup truck starting in mid-November for almost two months as it struggles with decreased demand, increased competition, and losses in its electric vehicle business.
StocksGuide is the ultimate tool for easily finding, analyzing and tracking stocks. Learn from successful investors and make informed investment decisions. We empower you to become a confident, independent investor.