Forecast Of The Day: Ford Vehicles Sold in North America
What?
Ford (NYSE:F) vehicles sold in North America declined from 2.76 million units in 2019 to 2.08 million in 2020. Trefis expects the metric to rise to about 2.29 million in 2021 and 2.32 million in 2022.
Why?
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While sales dipped considerably in 2020, due to the Covid-19 crisis, we expect the recovery over 2021 and 2022 to be somewhat muted, due to the ongoing semiconductor shortage which is hurting production across the auto industry.
So What?
We continue to believe Ford stock is undervalued, despite relatively sluggish growth. We value the stock at $15 per share, about 20% ahead of the current market price.
See Our Complete Analysis For Ford
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