On June 2, Ford Motor fell 3.82% in regular trading, trading at $15.88/share, with trading volume of $2.23 billion.
On the news front, Ford Motor confirmed that Global Chief Marketing Officer Lisa Materazzo has departed the company, with the personnel change effective June 1. The company has appointed Global Product Marketing Executive Director Dean Stoneley as interim CMO while conducting an open search for a permanent successor.
Additionally, macro headwinds continue to pressure U.S. new vehicle demand. High oil prices, rising interest rates, and persistent inflation have eroded approximately one million potential consumers from the new car market year-to-date. Ford shares had previously rallied to a 52-week high of $17.78 before entering a pullback phase, with the current price still above the analyst consensus target price of $14.31.
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