Ford shares close higher on Tuesday, former Audi sales chief to head Ford Germany

Ford Motor Company (F) said earlier this week it had appointed Martin Sander, Audi’s former Europe sales chief, as head of its operations in Germany as well as of its passenger vehicles for Europe.

The new role will combine the position of chair of Ford-Werke GmbH in Germany and General Manager of passenger vehicles for Europe, effective from June 1st. The role will be based in Cologne, Ford said.

Previously Sander served as Senior Vice President of Sales in Europe for Audi, after spending 25 years at Volkswagen Group.

Ford Motor shares closed higher for the fifth time in the past ten trading sessions in New York on Tuesday. The stock went up 2.10% ($0.50) to $24.35, after touching an intraday low at $23.28. The latter has been a price level not seen since January 4th ($22.42).

Shares of Ford Motor Company have risen 17.24% so far in 2022 compared with a 1.11% loss for the benchmark index, S&P 500 (SPX).

In 2021, Ford Motor Co’s stock went up 136.29%, thus, it again outperformed the S&P 500, which registered a 26.89% gain.

Analyst stock price forecast and recommendation

According to TipRanks, at least 11 out of 19 surveyed investment analysts had rated Ford Motor Company’s stock as “Buy”, while 5 – as “Hold”. The median price target on the stock stands at $21.89.