Good news today for legacy automaker Ford Motor Co. (F), who announced changes to its management team and also revealed the price to lease an F-150 Lightning electric pick-up truck. The news proved popular with investors as shares were up nearly 2% in trading on November 5.
Ford pared back its leadership team in Germany as two of its senior staff decided to depart the company. Ford is losing two “managing directors,” which is part of a larger effort at Ford to simplify its operations structure.
Now, Ford will be down to only two managing directors, both of whom have only about five months on the job. Interestingly, this latest downsizing comes after Ford’s launch of the Capri, which is the second electric vehicle that Ford offers built around the MEB platform from Volkswagen (VWAGY). The first was the Electric Explorer.
Record Low Lease Prices
In other news, if you would like to drive an electric vehicle but find the price tag too expensive, you will appreciate that the price to lease an F-150 Lightning electric pick-up truck has dropped to its lowest level ever. Now, interested drivers will be able to get a 2024 F-150 Lightning XLT Standard Range for $339 per month for 36 months.
However, Ford customers will also need to put down $6,629 at signing. That brings the whole price to $18,833, which is actually within striking distance of many used cars these days. The report from Inside EVs reveals that Ford actually cut the lease price roughly in half to make this deal happen. As recently as October this year, a lease started at over $700.
Is Ford Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on F stock based on six Buys, nine Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 7.93% rally in its share price over the past year, the average F price target of $12.04 per share implies 13.96% upside potential.
