Time to Buy Ford? Company Needs a Better Balance Sheet First

Katherine Ross

Late Thursday, Ford unveiled its new F-150.

And early Friday, Ford COO Jim Farley joined TheStreet to talk about both the coronavirus pandemic and the new car.

When asked about his thoughts on the increase in coronavirus cases across the U.S., Farley said, “It's very dynamic. It's tough to tell what's going to happen, but we're going to be ready. We were ready to start up our operations...We will always put the safety of our workforce as our number one priority. And that will be what drives our decisions.”

Farley reiterated that the pickup market is very important for Ford. 

"So for us the pickup market is really important. We've been the number one bestselling vehicle in the US flat out for over 40 years and the best truck for just as long. We have over a million, say about a million units a year. So this is really America's most popular vehicle. I think we're really well-positioned. We do have a fully electric vehicle, but not everyone can afford that. Not everyone wants that. With range anxiety, our hybrid F-150 goes 700 miles on one tank of gas. A lot of pickup truck customers in East Texas, that matters to them, the range," Farley said.

So, what would it take for Jim Cramer's Action Alerts PLUS portfolio to buy shares of Ford?

Jeff Marks, senior portfolio analyst, says that they need to see a better balance sheet, among other things, before buying Ford.

You can follow Katherine Ross on Twitter @byKatherineRoss.

Read more from Katherine Ross here.

Watch More of the Latest Videos from TheStreet and Jim Cramer

Enter your email to register or login. Registration information may be shared with advertising partners in accordance with our Privacy Policy.
Comments (2)
No. 1-2

Where's he pics of the new truck! Dying to see what it will look like