Jim Cramer, the engaging host of CNBC’s “Mad Money,” recently shared his buoyant perspective on Ford Motor Co. F in the midst of an electric vehicle (EV) market slowdown.
Jim Cramer’s Enthusiasm
What Happened: Cramer, participating in the CNBC Investing Club Homestretch, lauded Ford for its strategic pivot towards hybrid vehicle production. He described Ford’s recent maneuvers as “really interesting” against the backdrop of the EV market’s deceleration.
Ford’s Strategic Evolution
“Ford seems really interesting as the electric vehicle market slows down,” Cramer expressed.
Ford has surged forward in the hybrid vehicle arena despite the EV market slowdown, showcasing its flexibility and adaptability.
Driving Forward
Why It Matters: The EV sector has hit a speed bump, echoed by industry titan Tesla Inc.‘s tepid fourth-quarter results and muted volume growth forecast. This conjuncture has opened doors for traditional automakers like Ford to rev up in the hybrid vehicle domain.
Ford’s Game Plan
In early February, Ford’s CEO, Jim Farley, encouraged investors to shift their gaze from Tesla to Ford’s “Pro” unit, endorsing it as the automotive future. Farley’s counsel coincided with Ford’s hybrid vehicle sector triumph.
Competitive Maneuvers
Furthermore, Ford recently slashed prices for its 2023 Mustang Mach-E in Canada to counter rising competition from Tesla Inc.’s Model Y and other electric SUV alternatives.
Photo via Wikimedia Commons
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