Legacy automaker Ford (F) experienced a decline of over 1.5% in Friday’s afternoon trading session, as two pivotal developments emerged into the limelight. Firstly, Ford’s green initiatives showcase flickering signs of life, and concurrently, the United States witnessed the depletion of Ford’s Transit Connect inventory. These recent revelations did little to bolster the company’s share price.

In March 2023, Ford made a strategic decision to discontinue the production of Transit Connect, a series of compact vans, in the North American segment. Following the cessation in 2023, Ford confirmed the cessation of production for the region. Subsequently, reports indicate the exhaustion of the entire backlog in the U.S. market. With declining sales in the U.S., there is no successor planned for the Transit Connect in the foreseeable future.

Those desiring a Transit Connect will now need to shift their focus to Europe, where a revamped version offering a complete redesign has recently surfaced.

Fueling Innovation While on the Move

Despite scaling back its sustainable endeavors, Ford’s commitment to innovation in the green space remains steadfast. A recently unveiled patent application unveils Ford’s efforts to tackle a significant challenge – electric vehicle charging on the go.

The patent, filed in August, outlines a pioneering system that transforms roads into charging stations. By leveraging an electric vehicle’s wireless inductive charging coils to connect with specially integrated chargers on the road surface, a continuous charging infrastructure is established, enabling vehicles to replenish power while in motion. However, challenges such as power transfer inefficiencies loom over this concept, spurring Ford’s patent to address these critical concerns.

Analysts Weigh In: Is Ford a Sound Investment Now?

Turning to the financial landscape, Wall Street analysts hold a Moderate Buy consensus on F stock, premised on a blend of five Buy ratings, eight Holds, and one Sell issued in the past three months. Following a 5.33% decline in its share price over the preceding year, the average price target of $14 per share implies a potential upside of 32.51%.

Explore more Ford analyst ratings here.