Troubled car maker Ford Motor (NYSE: F) nowadays saw its stock fall to lows not seen since way back in 1986, as traders continue to express concerns by the company’s ability to compete with its rival Toyota Motor (NYSE: TM).
Yesterday, Wall Street got the poor news that many of us had been expecting but hoped never to produce out: for the first day since 1931, Ford lost its grip on the number two ranking for U.S. auto sales in 2007. The company showed a massive 12 percent drop for the year, and has been replaced by Toyota as the moment best-selling auto maker in the United States. Shares have tumbled, hitting an intraday low of $6.00 a
Just how tough has the company’s market value degraded by the past decade? Consider that… in 1998 the company boasted a $68 billion market value, compared with its current value of “only” $13 billion. that is definitely a unbreakable duration for the car maker which less than a decade ago was responsible for 25 percent of all new cars sold in the nation.
Continue reading Ford shares sink as Toyota takes U.S. number-two spot
Original post by Michael Fowlkes
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