Yahoo Finance Ford to Unveil Bronco SUV, Plans to Suspend Edge Production
Ford Motor Company's F Bronco SUV will make its long-awaited debut on Jul 9, after getting delayed multiple times amid the coronavirus crisis. The launch, which is likely to happen via a digital platform, was initially scheduled for a March unveiling.
The Bronco, to be assembled at Ford's Michigan Assembly Plant, will go on sale next year. It is part of Ford's recently-announced plans to spend $750 million and add 2,700 new direct jobs at its Michigan factory.
The firm will be rolling out the new Bronco in two-door and four-door versions. Both of these variants will have removable doors and roofs. Notably, there will be a second, smaller model, the Bronco Sport, in addition to the standard Bronco.
Reportedly, the mid-size SUV will be powered by a 2.3 liter turbo I4 engine matched to an automatic 10-speed as well as a manual 7-speed gearbox. The Bronco is making a comeback after Ford halted the production of the off-road SUV in 1996. The vehicle was in production for 30 years before it was discontinued.
Furthermore, Ford plans to offer 250 kWh of free charging to new Mustang Mach-E owners when the model goes on sale by the end of this year. The complimentary charging will be done through the recently-expanded FordPass Charging Network.
Meanwhile, Ford plans to suspend the production of Edge SUV, a move that could lead to the closing of the Ontario factory in Canada. The Ontario plant currently manufactures only two Lincoln Nautilus and Ford Edge models, with production of Nautilus expected to shift to China after 2023.
Zacks Rank & Stocks to Consider
Ford currently carries a Zacks Rank #3 (Hold). Shares of the company have depreciated 30.1%, year to date, compared with the industry’s rise of 34.4%.
Some better-ranked stocks in the same sector are Tesla, Inc. TSLA, Halfords Group Plc HLFDY and Niu Technologies NIU. While Tesla sports a Zacks Rank of 1 (Strong Buy), Halfords and Niu carry a Zack Rank of 2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Tesla have soared 136.9%, year to date, compared with the industry’s rise of 34.4%.
Shares of Halfords have gained 1%, year to date, as against the industry’s decline of 14%.
Shares of Niu have gained 39.5%, year to date, as against the industry’s decline of 14%.
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Click to get this free report Ford Motor Company (F) : Free Stock Analysis Report Tesla, Inc. (TSLA) : Free Stock Analysis Report Halfords Group Plc (HLFDY) : Free Stock Analysis Report NIU TECHADR (NIU) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
