While analyzing Ford's financial prospects, Himanshu Patel, an automotive analyst for JP Morgan, cut Ford's
rating to 'underweight', meaning he predicts the company will underperform financially over the next six months.But his reasoning is the significant part: Patel believes General Motors' upcoming new Chevrolet Silverado and GMC Sierra will seriously erode sales of Ford's cash-cow F-Series. Since Ford's full-size pickups make up 26-percent of the Blue Oval's overall sales, the second largest domestic arguably has reason for concern.
"We always monitor the competition," said Ford spokeswoman Becky Sanche "...we have plans to continue to lead the full-size pickup truck segment."
More details of Patel's analysis can be found at the link.
[Source: Detroit Free Press, Ford Motor Company]
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