Leading global automaker Ford Motor Company F has agreed to collaborate with Mahindra Group, an Indian automotive manufacturing company. This strategic alliance aims at using the former’s skill and global reach with the latter’s presence in India.
In an age of unparalleled changes in the global auto industry, both the companies will be exploiting their mutual strengths to drive profitable growth in India and other emerging markets.
For a period of three years, teams from both companies will synergize to work on areas that include mobility programs, electrifications, connected vehicle projects, product development and many more aspects.
Ford Motor Company Price and Consensus
Ford believes that this coalition will enable the company to deliver the best batch of vehicles and services to customers and grow profitably in India, recognized as the world’s fifth largest vehicle market. Further, in conjunction with India’s ambitious plan to convert into electric vehicles, this cooperation will help both Ford and Mahindra tap into the growing potential of utility market and the emerging usage of battery-powered electric vehicles.
Price Performance
Ford’s shares have gained 4.6% over the last three months, underperforming the 6.5% increase of the industry it belongs to.
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Zacks Rank & Key Picks
Ford currently carries a Zacks Rank #3 (Hold).
A few better-ranked automobile stocks are Toyota Motor Corporation TM, BMW AG BAMXF and Ferrari N.V. (RACE, all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Toyota has a long-term growth rate of 7%.
BMW has a long-term growth rate of 4.2%.
Ferrari has an expected long-term earnings growth rate of 14.1%.
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