- For the first time in history, auto brand Ford passed its rival at the end of 2021 for highest market value.
- This award is highly the result of the new CEO, Jim Farley who put a big focus on maximizing sales and the electric future of Ford.
- Find a Ford for sale at Metro Ford of OKC.
If you’re one to follow the stock market in any capacity, you can understand the fluctuation of market value and stock pricing. A lot of people put in good time and work to predict what is going to happen with these things, but at the end of the day, people are unpredictable which makes the stock market just as unpredictable.
At the end of 2021, for the first time since 2016, Ford surpassed its rival, General Motor Co., with a market value of $83 billion. This is just barely ahead of the competing $82.9 billion, but Ford shares have more than doubled this last year alone, pushing them ahead of the competition. Who do we have to thank for this?
New CEO to Push Market Change
In October of 2020, the hat of “CEO” was placed on Jim Farley, succeeding Jim Hackett. Some weren’t sure of Farley, maybe because of his diverse background in the industry? Either way, Farley has proven all the ‘haters’ wrong! In his first year in this role, “the automaker has made attention-grabbing moves that signaled [his] ambition to lead the automotive industry’s electric and digital future.” Farley has been described as a servant-leader, even spending his spare time serving people experiencing homelessness. – The Detroit News
With that servitude and “go-get-em” attitude, Ford shares rose about 100% during Farley’s first year heading up the company. He has accelerated Ford’s push into electric vehicles and even sold out the first year of the F-150 electric pickup truck. He has debuted his spring plans to produce 600,000 electric vehicles by 2024.
Who Backs This?
Ford Motor Co.’s Executive Chair Bill Ford, exercised his stock options at the end of 2021. He bought 2 million shares of Ford Motor Co.’s common stock. His receipt showed a total cost of approximately $20.5 million… That’s not something I would consider to be easy pocket change.
But what does that mean? His decision to buy that much stock reflects Bill Ford’s confidence in the future of Ford Motor Co. and its leader. A professor at the University of Michigan, Erik Gordon, explained that ‘Investors often interpret buying by an insider as a vote of confidence, […] Many Ford executives seem confident in the company’s near-term future and its long-term EV (electric vehicle) future.’
The Rivalry For The Market
Because of this ongoing rivalry between General Motors and Ford, they have dominated the pickup truck industry together and helped motivate each other to keep going and think outside the box. Even with the Covid-19 pandemic hitting, their prolonged period of prosperity barely took a hit.
It’s an easy rivalry to have considering both headquarters are in Detroit, Michigan. The long-sparring competitors think outside of the box to gain bragging rights of being the best.
In 2012, General Motors aired a commercial that suggested Ford’s trucks would not survive an apocalypse while General Motors’ would and because of this, Ford threatened to sue the opposing company. In the fall of 2020, General Motors claimed to have a new, revamped heavy-duty pickup truck with “best in class” towing capability and Ford publicly disputed the claim.
Why is this Important?
At Metro Ford of OKC, the difference is real.
We pride ourselves on making sure your time and money are well spent at our dealership. Our prices are always fair and we offer competitive financial services as well as reliable service from our certified technicians. We also offer a no-pressure, hassle-free experience by answering any and all questions you may have.
Metro Ford of OKC is the place to find your custom built Ford. We can help you buy your next new or used Ford vehicle!
In Oklahoma, community is everything. That’s why we treat you like family and want you to be a part of our community events. Our events feature local business and charities.
Come see for yourself why Ford outranks General Motors at Metro Ford of OKC: THE custom Ford headquarters.
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