On September 8, Ford fell 3.04% in regular trading, trading at $14.195 per share, with turnover of approximately $96.67 million. The decline was driven by reports that Ford, alongside Stellantis and Hyundai Motor, is accelerating plans to develop extended-range electric vehicles (EREVs) equipped with gasoline-powered generators, a move widely interpreted as a retreat from the pure battery-electric route.
Ford has reportedly halted its pure-electric F-150 Lightning project, planning instead to revive the model as an extended-range EV. This strategic pivot comes amid sharply deteriorating EV sales — Ford's August US electric vehicle deliveries plunged 79% year-over-year to just 2,197 units, while total US vehicle sales fell 10.3% to 170,681 units. The weak demand data compounded investor skepticism over the company's electrification trajectory.
Within the Automobile Manufacturers sector, the divergence was notable. Tesla rose 2.91%, while General Motors fell 2.3%, NIO declined 1.05%, Rivian slipped 0.12%, and Ferrari dropped 1.38%. The contrast with Tesla's gains further amplified concerns about Ford's competitive positioning in the evolving EV landscape.
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