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Tesla (TSLA) has revealed that its much-awaited Cybertruck will launch in an advanced, four-motor variant, according to Reuters.

First declared in 2019, the vehicle production is expected to begin next year and achieve volume production in 2023.

Tesla designs, manufactures, and sells fully electric cars, solar energy generation systems, and energy storage products. TSLA shares were down 6.4% on December 3 to close at $1,014.97. (See Tesla stock charts on TipRanks)

CEO Comments

In a tweet, Tesla CEO Elon Musk said, “Initial production will be 4 motor variant, with independent, ultra-fast response torque control of each wheel.”

Further sharing his excitement on the electric pick-up truck with “insane technology bandwagon,” Musk added that the Cybertruck will feature both front and rear-wheel steer that will "not just (turn) like a tank – it can drive diagonally like a crab.”

Notably, Musk confirmed receipt of several hundred thousand orders for the Cybertruck when it opened for preorders. Musk will declare further updates on the product roadmap in the next earnings announcement.

Cybertruck will compete with pickup trucks like GMC's (GM) Hummer EV, Ford's (F) F-150 Lightning, and Rivian's R1T.

Wall Street’s Take

Consensus among analysts is a Hold based on 12 Buys, 6 Holds, and 7 Sells. The average Tesla price target of $938.52 implies a 7.5% downside potential from current levels.

Website Traffic

TipRanks’ Website Traffic tool, which uses data from SEMrush Holdings (SEMR), the world’s biggest website usage monitoring service, offers insight into TSLA’s performance.

In October, Tesla website traffic recorded a 13.17% year-over-year decline in monthly unique visits. However, year-to-date website traffic growth increased by 1.7%, compared to the same period last year.

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Ford (NYSE: F) has been a big winner this year as the company is making progress in the electric vehicle market and as profits have boomed following a rough 2020. An end to the semiconductor shortage should boost Ford, along with other automakers.

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What happened Ford Motor Co. (NYSE: F) continued to push forward in November, beating the market with a 12.4% increase in its stock price, according to S&P Global Market Intelligence.

In this video, I will talk about the genius behind launching a Cyberquad for children, what it could mean for the upcoming Cybertruck, and Tesla's (NASDAQ: TSLA) gross margin compared to other automakers. You can find the video below, but here are some highlights.

Ford Motor Co expects to be the world's second largest electric vehicle manufacturer within two years, with annual production capacity of nearly 600,000, a top company executive said Friday.

Ford Motor Co expects to be the world's second largest electric vehicle manufacturer within two years, with annual production capacity of nearly 600,000, a top company executive said Friday.

Global automobile manufacturer Ford Motor Company (F) released its November 2021 sales figures. Ford saw a 5.9% year-over-year growth in total sales, and a 4.5% jump in retail sales against November 2020. About 29% of Ford retail sales in November came from prior customer orders, as stated by the company.

Ford also claimed to be America’s best-selling vehicle manufacturer for the third consecutive month, and the only major U.S. automaker to beat year-over-year November sales. Following the news, shares were up 2.7% before closing up 1.5% at $19.87 on December 2.

Record November Sales

Ford’s electric vehicle (EV) sales witnessed a whopping 153.6% growth to 11,116 EVs against November 2020. This growth was three times faster than the overall EV segment, raising the company’s EV market share to 10%.

Ford SUVs also fetched record retail sales up 25.6% year-over-year, with the Bronco family sales totaling 19,773 SUVs, and the Mustang Mach-E sales rising 8.4% compared to November 2020. The Mustang Mach E also claims to be America’s second-best full-electric SUV behind Tesla Inc.’s (TSLA) Model Y.

Meanwhile, Ford sold 70,839 pick-up trucks, a 15.8% year-over-year growth. The F-series made a record 14.6% jump compared to November 2020, making it the leader in the trucks segment for the 45th consecutive year.

Ford manufactured a total of 178,562 vehicles in November 2021, and received a record 74,000 new vehicle retail orders in the same month.

Management Comments

The Vice President of Ford Sales in the U.S. and Canada, Andrew Frick, said, “On the strength of Mustang Mach-E, Ford delivered record electrified vehicle sales, growing more than three times faster than the overall segment. Retail sales were up 4.5 percent over a year ago, with SUVs having a best-ever November sales performance on record sales of our all-new Bronco family. We expect growth to continue, thanks to adding 74,000 new vehicle orders in November.”

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Analysts’ Take

Yesterday, Wolfe Research analyst Rod Lache lifted the price target on the stock to $22 (10.7% upside potential) from $17. However, the analyst downgraded the stock to a Hold rating from Buy.

According to Lache, Ford has reached its potential stock price appreciation (133% up year-to-date and about 61% since April), which he had anticipated based on its turnaround. The analyst now prefers rival General Motors (GM) mainly because he expects significant earnings upside based on the commercial success of its Autonomous Driving platform.

Overall, the Ford stock has a Moderate Buy consensus rating based on 9 Buys, 3 Holds, and 2 Sells. The average Ford price target of $18.38 implies 7.5% downside potential to current levels.

Website Traffic

TipRanks’ Website Traffic tool, which uses data from SEMrush Holdings (SEMR), the world’s biggest website usage monitoring service, offers insight into Ford's performance.

In October, Ford website traffic recorded a 9% year-over-year decrease in monthly visits. However, year-to-date website traffic growth increased 11.89% compared to the same period last year.

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