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FORD MOTOR COMPANY

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Ford Motor : Maverick reaches 36,000 reservations in first week

06/18/2021 | 12:18pm EDT

The new compact Ford Maverick created a buying spur with 36,000 customer reservations during its first week, Ford Motor Co.'s CEO Jim Farley said Thursday.

Farley revealed the numbers about the buzzy hybrid at the company's Deutsche Bank "fireside chat."

"The appeal of Ford and its influential products is evident in customer-reservation numbers for new, strategically important vehicles," the auto giant said in a statement.

Faley added that its "reimagined" Bronco SUV had 190,000 reservations, along with 100,000 for the battery-electric F-150 Lightning pickup truck and another 20,000 for the all-electric E-Transit commercial van.

At a little under 200 inches in length, the hybrid Maverick will be one of the smallest pickups on the market, but about the size of current SUVs on the market like the Toyota Highlander and Volkswagen Atlas.

The Maverick, Ford's most economical model, will go on sale later this year starting at $19,995 with the price increasing to $35,000 for higher-end models.

He said the electric Mustang Mach-E SUV is "sold out" after Ford built 27,816, selling 10,510 in the United States. Farley said the vehicle topped all sales in Norway, where electric vehicles currently lead the market.

Ford's efforts are in line with its announcement last year to be wholly carbon neutral within 30 years. The world's fifth-largest automaker said at the time it would focus on vehicle use and its supply base.

Ford said its company facilities in the coming years will strive to reach two goals -- attaining carbon neutrality by 2050 and running its plants with locally sourced renewable energy by 2035.

Copyright 2021 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source US Top News

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Financials (USD)
Sales 2021 133 B - -
Net income 2021 5 151 M - -
Net cash 2021 6 520 M - -
P/E ratio 2021 11,5x
Yield 2021 0,10%
Capitalization 57 440 M 57 440 M -
EV / Sales 2021 0,38x
EV / Sales 2022 0,30x
Nbr of Employees 182 000
Free-Float 97,9%
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 14,39 $
Average target price 16,10 $
Spread / Average Target 11,9%
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Managers and Directors
James D. Farley President, Chief Executive Officer & Director
John T. Lawler Chief Financial Officer & Vice President
William Clay Ford Executive Chairman
Kenneth E. Washington Chief Technology Officer
Hau Thai-Tang Chief Operations & Product Platform Officer
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