The company blames parts shortages for sidelining as many as 45,000 vehicles that remain only half-built because they don't have the parts needed to complete them.įor that matter, even Ford's small but growing electric operation is apparently not immune from the problems plaguing its competitors.

Now, what about Ford - which, for all its electric ambitions, still remains today primarily a maker of SUVs and trucks powered by the venerable internal combustion engine? Well, earlier this week, as you probably heard, Ford reported a 9% decline in sales for September - and an 18% decline in trucks. Mizuho just isn't sure the stocks will go up as much as it previously hoped they might. Indeed, across the EV industry, Mizuho says getting the needed parts to build EVs, and getting transportation to deliver them where they're going, remains 'a challenge.' Long term, Mizuho is still a supporter of both Tesla and Nio stocks and maintains buy ratings on both companies. Similarly, Mizuho cut its price target on China's Nio by about 5%, to $40 a share, citing - surprise! - 'softer SepQ deliveries' and consequently lower expected earnings in the quarter.

Although Tesla did still grow its deliveries 42% year over year, and grew its production numbers 54%, the miss necessitates a price target cut to $370 per share, says Mizuho today in a note covered by StreetInsider. Specifically, this morning, Japan's Mizuho bank lowered its price target on Tesla stock, citing 'logistics challenges' that prevented the company from hitting its targeted delivery number for the last quarter. Granted, yesterday's announcement that Elon Musk has apparently decided he will buy Twitter after all is probably still having an effect on Tesla stock - but there's new news, too. In the case of electric vehicle (EV) specialists Tesla and Nio, it's basically Wall Street to blame for today's declines. Tic-tac-toe, three in a row, shares of Ford Motor Company (NYSE: F), Tesla (NASDAQ: TSLA), and Nio (NYSE: NIO) are down 2%, 1.9%, and 5.9%, respectively.Įach of the three ran into a fender bender of modestly bad news today. On an only modestly red day for the stock market, with major indices all down just a fraction of a percent each, shares of automotive stocks are getting hurt more than most. All figures quoted in US dollars unless otherwise stated.

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