What happened
Shares of Ford Motor Company (F 1.66%) opened lower on Monday amid a broad market sell-off driven largely by concerns about rising interest rates. As of 10:30 a.m. ET, Ford's shares were down about 4.7% from Friday's closing price.
So what
Ford's was one of many stocks that took hard hits in early trading on Monday. There were several possible catalysts for the sell-off, but the primary trigger seemed to be concerns about interest rates.
Traders and investors are concerned about higher interest rates in the U.S., which now seem likely amid the highest inflation in years. Of urgent concern: The U.S. Federal Reserve will begin a two-day meeting on Tuesday that is expected to end with a signal it will begin raising rates soon, possibly in March.
While rising interest rates could negatively affect new-vehicle sales over time, there was no negative news about Ford itself on Monday. In fact, Ford began the day by announcing a new model: The new Bronco Raptor is a high-performance SUV with over 400 horsepower and an advanced off-road suspension derived from racing vehicles.
Ford said on Monday that its new Bronco Raptor, inspired by the company's successful off-road racers, will begin shipping this summer. Image source: Ford Motor Company.
Ford will begin accepting reservations for the Bronco Raptor in March. The vehicles will begin shipping this summer at a starting price of about $70,000.
Now what
Ford's stock price has been volatile, but CEO Jim Farley appears to have the company's growth plan well on track. Auto investors can look forward to updates from Farley and his senior team when Ford reports its fourth-quarter earnings on Feb. 3.
