28 September 2022
By ; Quick Insurance Guru
Investors got on the gas with Ford (NYSE: F) stock on Wednesday.
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The auto industry incumbent's share price bumped more than 2% higher, slightly eclipsing the gain of the S&P 500 index on the day
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Thanks to the latest analysis from a pair of closely followed researchers.
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So what
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In a joint forecast published Tuesday, the two groups wrote that new vehicle retail sales will hit nearly 959,000 units in September.
So what
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The increase is a remarkable 5.4% year-over-year increase. Total new vehicle sales will climb at a nearly 12% clip to over 1.12 million units, even better.
So what
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Total new vehicle sales for the third quarter are expected to land only slightly higher, by 0.2%, and well down (at over 13 percent year to date as of Sept. 30).
Now what
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Supply chain issues inhibiting production is one reason demand has been so robust.
Now what
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This should certainly help manufacturers of high-priced products, like Ford and its automaking brethren.
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