“Ford Challenges Tesla’s Dominance in the EV Market”

Published On: October 11, 2024 10:05 pm

Ford Challenges Tesla: New Self-Driving Features at Lower Costs

Ford Motor Co. (F) is stepping up its game by directly competing with Tesla (TSLA) in the self-driving technology arena. The company is offering more affordable options for consumers who are interested in autonomous driving capabilities.

Tesla’s full self-driving package costs up to $8,000 for a one-time purchase, which is over three times higher than Ford’s pricing. Tesla also has a monthly subscription fee of $99, double the amount Ford charges. However, it’s important to note that Ford’s BlueCruise system is designed primarily for highway use, while Tesla’s system is capable of operating on any type of road.

Latest Innovations: Adaptive Upfitter Switches

In addition to its competitive pricing strategy, Ford has also filed a new patent for “adaptive upfitter switches.” This innovation is particularly beneficial for off-road driving enthusiasts.

Adaptive upfitter switches facilitate the use of aftermarket parts, making installation easier than traditional methods that require additional wiring within the vehicle. This new feature will complement Ford’s existing Pro Power interface, enhancing the off-road experience.

Assessing Ford’s Stock Value

Looking at Wall Street’s perspective, analysts have given Ford’s stock (F) a Moderate Buy rating. This consensus comes from five Buy ratings, nine Holds, and one Sell recommendation in the last three months. After experiencing a 6.72% decline in its share price over the past year, the average price target for F shares is $12.82, suggesting a potential upside of 21%.