Automaker stocks fall this week
DETROIT, MI (MPRN)-- Ford Motor Company’s stock fell to its lowest point since 2012 this week.
Detroit’s three automakers all spent part of the day Wednesday with their stocks in freefall.
Ford’s stock fell more than 3 percent on Tuesday, and the market volatility followed General Motors and Fiat Chrysler into Wednesday, as well.
A representative from Ford says they are restructuring their business, and they expect the market will recognize the company’s progress over time.
Michelle Krebs is an executive analyst with Auto Trader. She says Ford specifically has had a rough couple of years, with leadership changes, and an ambiguous vision for the future.
“And I think Wall Street’s not clear on what Ford’s plan is regarding autonomous vehicles and such,” she says.
But Krebs says all-in-all, the automakers have had a great period of growth since emerging from the recession, and the industry is due for a market correction. She says industry watchers do not think this downturn will foretell a catastrophic issue for the car companies.