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Wall Street Breakfast

Ford falls after slashing prices

Wall Street Breakfast

Seeking Alpha

Business News, Investing, Business, News

4.11K Ratings

🗓️ 18 July 2023

⏱️ 7 minutes

🧾️ Download transcript

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0:00.0

Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

0:07.0

Good morning, today is Tuesday, July 18th, and I'm your host Julie Morgan.

0:12.0

Ford falls after announcing it is cutting prices of one of its electric vehicles.

0:17.0

AT&T Frontier and TDS and lower due to lead concerns,

0:22.0

and expect a delay not a cancellation of the

0:25.4

Microsoft Activision deal. Here's what's making headlines. Ford Motor Company

0:31.8

announced on Monday that it is cutting prices on the F-150 Lightning

0:36.2

EV truck.

0:37.2

Following the announcement, Ford fell nearly 6% on Monday.

0:41.2

The company says increased plant capacity, continued work on scaling

0:45.1

production and costs, and improved battery raw material costs are helping to lower the

0:50.1

cost of the truck. The Detroit automaker also noted that the Rouge Electric the

0:54.1

truck. The Detroit automaker also noted that the Rouge Electric Vehicle Center in Michigan

0:56.3

is temporarily closed to complete final plant upgrades to triple the

1:00.7

plant's annual run rate to a targeted 150,000 F-150-150 lightning trucks beginning this fall.

1:08.0

The upgrades at the plant are expected to make it possible to lower pricing across the F-150 lightning line.

1:14.7

Ford said customers will now have greater availability of the truck as early as October

1:20.0

at an MSRP closer to initial lightning pricing.

1:23.6

The price cut is nearly $10,000.

1:26.6

And if you remember some competition for Ford we told you about yesterday

1:30.8

here on Wall Street breakfast,

1:32.4

Tesla announced on Saturday that

...

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