Ford shares increased by some 140 percent last year on the back of high-profile news regarding BEVs like the Mustang Mach-E and F-150 Lightning. And if you reach back to 2020, when Jim Farley officially took the company helm, stock shares are up a staggering 200 percent. This news has rival automakers like General Motors and Tesla Motors blushing.
According to CNBC, The numbers make Ford the best performing automotive stock in 2021, topping crosstown rival General Motors, quasi-Detroit resident Stellantis, and the other notable American automaker, Tesla. Investors have been pleased with Dearborn’s new direction under industry veteran Jim Farley who took over in October 2020 after members of Ford’s board became fed up with the furniture man, Jim Hackett, after three years of failing to move the needle on Ford’s lowly stock.
Under Hackett, share prices actually got worse despite efforts to grease the market with ambitious plans like Ford’s Corktown campus, including a revival of the iconic and derelict Michigan Central Station. Everyone knows train stations don’t sell cars. In April of 2020 Ford shares fell to their lowest since January 2009.
Ford’s largest single-day share increase came on December 10 when prices jumped 9.6% to a roughly 20-year high of $21.45 a share. The fanfare followed an announcement by Farley that Ford would triple production of the Mustang Mach-E to more than 200,000 vehicles per year in response to off-the-charts demand in North America and Europe. Reservations for the F-150 Lighting crested the 200,000 mark in early December as well, prompting the company to announce earlier this week it would be doubling output of its first all-electric pickup truck.
Since Farley took over more than 15 months ago, Ford stock is up by more than 200%. The impressive run of performance should continue if the company is able to deliver on its Ford+ restructuring plan which includes further acceleration of EV production plans and development of more home run products. While not in the BEV realm we’re expecting to see the unveiling of the S650 Mustang later this year, ahead of a 2023 launch.