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The Zacks Analyst Blog Highlights XPeng, Ford, Toyota and Mercedes-Benz
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For Immediate Release
Chicago, IL – August 30, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: XPeng Inc. (XPEV - Free Report) , Ford (F - Free Report) , Toyota (TM - Free Report) , Mercedes-Benz (MBGAF - Free Report) .
Here are highlights from Monday’s Analyst Blog:
EV Roundup: Ford's Mustang Mach-E Price Hike and More
In a landmark step amid heightening climate issues, California passed a law last week that bans gas-powered car sales by 2035. With that, it became the first state in the United States to end the use of gas-powered cars. The California Air Resources Board (CARB) issued a new rule enforcing automakers to accelerate the production of green vehicles beginning in 2026. Chairman of the CARB, Liane Randolph, is of the view that this is California's most significant effort until now to cut down air pollution and would result in a 50% reduction in pollution from cars and light trucks by 2040.
On the news front, XPeng Inc. posted second-quarter results, incurring a narrower-than-anticipated loss per share. Meanwhile, U.S. auto giant Ford reopened its order bank for 2023 Mustang Mach-E, hiking prices across all trim levels by as much as $8000.
In a breakthrough, Toyota accepted California's authority to set vehicle emission standards, reversing its support to the Trump government that stripped the state of its power. Mercedes-Benz also made it to the headlines as the company is set to launch a stellar range of EQ vehicles for 2023 in the United States.
Toyota has acknowledged California's authority to set its auto-emission standards under the U.S. Clean Air Act. This ends a stalemate that dates back to the Trump administration. On Aug 23, the automaker accepted the California Air Resources Board's command in climate policies. It stated that it is eager to partake in the shared vision of greenhouse gas reduction and carbon neutrality with the California Air Resources Board and the State of California.
The move is somewhat surprising as Toyota had sided with the Trump administration in 2019 that moved courts to roll back existing mileage rules and revoke California's right to establish its emission standards. The announcement to support the state's emissions standards followed suit as the California Air Resources Board approved a ban on the sale of new petroleum-powered vehicles by 2035.
Ford announced that it is set to take reservations for its 2023 Mustang Mach-E after a four-month suspension on the grounds of short supply. However, the news of the re-opening of order banks followed the announcement of the price increase of the battery-electric SUV in light of ongoing headwinds like material cost rises and supply chain snags.
The starting MSRP for the base Ford Mustang Mach-E Select RWD Standard range increased to $46,895, marking an increase of $3,000. The Premium RWD Standard Range model saw an even higher price rise of $6,200, now starting at $54,975. The top-of-the-line GT Extended Range edition now comes just below $70,000. The Mach-E GT will now cost $61,995, taking up its price by $7,900,
Though the Mustang Mach-E range has become quite a pinch to the pocket, Ford will be adding updated features across the lineup. The Co-Pilot360 Driver Assist Technology will be a standard safety feature going forward. The software will allow customers to receive future over-the-air updates for its Advanced Driver Assistance Systems. Also, Ford is boosting the battery range of the Mach-E SUV Premium models.
XPeng incurred second-quarter 2022 adjusted loss of 43 cents per share, narrower than the Zacks Consensus Estimate of $2.61 a share. The bottom line, however, deteriorated from a loss of 21 cents a share incurred in the corresponding quarter of 2021. The China-based EV maker posted revenues of $1,110.2 million, up a whopping 97.7% year over year on the back of robust deliveries.
Deliveries totaled 34,422 units, skyrocketing 98% year over year. A total of 15,983 P7 model was sold during the quarter under review, marking a 39% rise year over year. Deliveries of the P5 family sedan totaled 12,848 units.
As of Sep 30, XPEV had cash and cash equivalents of around $1.3 billion. For third-quarter 2022, XPeng expects deliveries in the band of 29,000-31,000 units, indicating an uptick of 13-20.8% year over year. Revenues are envisioned within RMB 6.8-RMB 7.2 billion, implying year-over-year growth of 18.9-25.9%.
Mercedes-Benz announced that it started production of its first battery-electric SUV for the U.S market. The EQS SUV production began at the Alabama plant last week and will be followed by the manufacture of the EQE SUV later this year. The auto magnate also announced a range of EQ lineup of electric vehicles for the U.S. market. In the statement. it shared details of the new versions of EQS and EQE for 2023.
The new addition includes an EQS 450 4MATIC, joining the current 450+ and 580 4MATIC, as well as a 350 4MATIC version of the EQE, which will join the previously announced 350+ and 500 4MATIC models.Mercedes announced that the 2023 model year will include an AMG version of the EQE sedan. The AMG EQE Sedan comes with impressive driving dynamics and is equipped with a powerful high-performance drive battery that uses the latest lithium-ion technology. The entire range of 2023 EQ vehicles is likely to arrive in the U.S. market by late 2022.
What's Next in the Space?
Stay tuned for announcements of upcoming EV models and any important updates from the red-hot industry.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights XPeng, Ford, Toyota and Mercedes-Benz
For Immediate Release
Chicago, IL – August 30, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: XPeng Inc. (XPEV - Free Report) , Ford (F - Free Report) , Toyota (TM - Free Report) , Mercedes-Benz (MBGAF - Free Report) .
Here are highlights from Monday’s Analyst Blog:
EV Roundup: Ford's Mustang Mach-E Price Hike and More
In a landmark step amid heightening climate issues, California passed a law last week that bans gas-powered car sales by 2035. With that, it became the first state in the United States to end the use of gas-powered cars. The California Air Resources Board (CARB) issued a new rule enforcing automakers to accelerate the production of green vehicles beginning in 2026. Chairman of the CARB, Liane Randolph, is of the view that this is California's most significant effort until now to cut down air pollution and would result in a 50% reduction in pollution from cars and light trucks by 2040.
On the news front, XPeng Inc. posted second-quarter results, incurring a narrower-than-anticipated loss per share. Meanwhile, U.S. auto giant Ford reopened its order bank for 2023 Mustang Mach-E, hiking prices across all trim levels by as much as $8000.
In a breakthrough, Toyota accepted California's authority to set vehicle emission standards, reversing its support to the Trump government that stripped the state of its power. Mercedes-Benz also made it to the headlines as the company is set to launch a stellar range of EQ vehicles for 2023 in the United States.
While Mercedes-Benz currently holds a Zacks Rank #2 (Buy), TM, F and XPEV carry a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here
Last Week's Top Stories
Toyota has acknowledged California's authority to set its auto-emission standards under the U.S. Clean Air Act. This ends a stalemate that dates back to the Trump administration. On Aug 23, the automaker accepted the California Air Resources Board's command in climate policies. It stated that it is eager to partake in the shared vision of greenhouse gas reduction and carbon neutrality with the California Air Resources Board and the State of California.
The move is somewhat surprising as Toyota had sided with the Trump administration in 2019 that moved courts to roll back existing mileage rules and revoke California's right to establish its emission standards. The announcement to support the state's emissions standards followed suit as the California Air Resources Board approved a ban on the sale of new petroleum-powered vehicles by 2035.
Ford announced that it is set to take reservations for its 2023 Mustang Mach-E after a four-month suspension on the grounds of short supply. However, the news of the re-opening of order banks followed the announcement of the price increase of the battery-electric SUV in light of ongoing headwinds like material cost rises and supply chain snags.
The starting MSRP for the base Ford Mustang Mach-E Select RWD Standard range increased to $46,895, marking an increase of $3,000. The Premium RWD Standard Range model saw an even higher price rise of $6,200, now starting at $54,975. The top-of-the-line GT Extended Range edition now comes just below $70,000. The Mach-E GT will now cost $61,995, taking up its price by $7,900,
Though the Mustang Mach-E range has become quite a pinch to the pocket, Ford will be adding updated features across the lineup. The Co-Pilot360 Driver Assist Technology will be a standard safety feature going forward. The software will allow customers to receive future over-the-air updates for its Advanced Driver Assistance Systems. Also, Ford is boosting the battery range of the Mach-E SUV Premium models.
XPeng incurred second-quarter 2022 adjusted loss of 43 cents per share, narrower than the Zacks Consensus Estimate of $2.61 a share. The bottom line, however, deteriorated from a loss of 21 cents a share incurred in the corresponding quarter of 2021. The China-based EV maker posted revenues of $1,110.2 million, up a whopping 97.7% year over year on the back of robust deliveries.
Deliveries totaled 34,422 units, skyrocketing 98% year over year. A total of 15,983 P7 model was sold during the quarter under review, marking a 39% rise year over year. Deliveries of the P5 family sedan totaled 12,848 units.
As of Sep 30, XPEV had cash and cash equivalents of around $1.3 billion. For third-quarter 2022, XPeng expects deliveries in the band of 29,000-31,000 units, indicating an uptick of 13-20.8% year over year. Revenues are envisioned within RMB 6.8-RMB 7.2 billion, implying year-over-year growth of 18.9-25.9%.
Mercedes-Benz announced that it started production of its first battery-electric SUV for the U.S market. The EQS SUV production began at the Alabama plant last week and will be followed by the manufacture of the EQE SUV later this year. The auto magnate also announced a range of EQ lineup of electric vehicles for the U.S. market. In the statement. it shared details of the new versions of EQS and EQE for 2023.
The new addition includes an EQS 450 4MATIC, joining the current 450+ and 580 4MATIC, as well as a 350 4MATIC version of the EQE, which will join the previously announced 350+ and 500 4MATIC models.Mercedes announced that the 2023 model year will include an AMG version of the EQE sedan. The AMG EQE Sedan comes with impressive driving dynamics and is equipped with a powerful high-performance drive battery that uses the latest lithium-ion technology. The entire range of 2023 EQ vehicles is likely to arrive in the U.S. market by late 2022.
What's Next in the Space?
Stay tuned for announcements of upcoming EV models and any important updates from the red-hot industry.
Why Haven't You Looked at Zacks' Top Stocks?
Our 5 best-performing strategies have blown away the S&P's impressive +28.8% gain in 2021. Amazingly, they soared +40.3%, +48.2%, +67.6%, +94.4%, and +95.3%. Today you can access their live picks without cost or obligation.
See Stocks Free >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.