For anyone who has ever had a car stolen, you know first-hand what a nightmarish experience it can be. Legacy automaker Ford (F) may have a way to help you fight back, but it will come at a cost that many may not want to pay. This tool, with its potential costs, left investors concerned. They expressed that concern with a fractional loss in Ford shares in Monday afternoon’s trading.
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There are, reports note, over 850,000 vehicles stolen every year worldwide. And to address some part of that, Ford recently offered Start Inhibit, a tool that basically allows users to brick a car remotely, on purpose. Even with the real key in the vehicle, using Start Inhibit makes it impossible to actually start the vehicle.
But the downside is its cost. Not in any subscription fee, but rather in what you have to do to get access to Start Inhibit. Start Inhibit requires a FordPass connection, and gives Ford the option to collect data from the vehicle, including GPS location and ignition system status. Thus, anyone who wants to use Start Inhibit at any point must allow Ford to track vehicle location. And while Ford protects that data, hacks happen. And then, someone else learns all the places you drive to. As one report put it, “The data exists.”
The Diamond in the Really Rough
In a move that will likely have some scouring their Facebook (META) Marketplace listings, a remarkable story recently emerged. Facebook Marketplace once played host to a bit of automotive history, as a Ford Probe IV concept car was listed for sale on Facebook Marketplace. This was one of just two Ford Probe IV concept cars ever made.
This particular model, Chassis 001, was the “wind tunnel and development prototype,” reports note. Just for comparison, the car’s sister vehicle, Chassis 002, sold for $125,000 about three years ago. It is currently located at the Petersen Automotive Museum in California, reports note.
Is Ford Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Hold consensus rating on F stock based on two Buys, 10 Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 31.98% rally in its share price over the past year, the average F price target of $13.27 per share implies 0.19% downside risk.
