Share price of
Ford Motor Co.
) increased 1% on Feb 18, 2014 to $15.39 after the automaker
opened the 700th store for its Quick Lane Tire & Auto Center
business at Grapevine Ford Lincoln in Grapevine, Texas. The Quick
Lane vehicle maintenance business is one of the fastest-growing
service brands in the industry, according to the company.
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Under the Quick Lane business, Ford offers vehicle maintenance
services including oil and filter changes, light repair such as
brake fixing, and tire replacements for all vehicles. The Quick
Lane stores also sell tires from 11 leading brands including
The Goodyear Tire & Rubber Company
), Michelin and
) and ensures the best price.
Tire sales at Quick Lane increased 12% to 1.4 million in 2013.
Revenues from the business surged to $800 million during the
year. Moreover, 25% of the services were provided to vehicles by
Acting on the success of the business in the U.S., Ford plans to
offer Quick Lane service globally. The automaker intends to open
100 stores outside the U.S..
Ford posted earnings per share of 31 cents in the fourth quarter
of 2013, in line with the fourth quarter of 2012 earnings (all
excluding special items). With this, the company surpassed the
Zacks Consensus Estimate of 28 cents.
Revenues in the quarter grew 3.6% to $37.6 billion, exceeding the
Zacks Consensus Estimate of $35.47 billion. The improvement was
attributable to increased wholesale volumes in the automotive
Currently, Ford carries a Zacks Rank #3 (Hold). A better-ranked
automobile stock worth considering is
Tesla Motors, Inc.
), which sports a Zacks Rank #1 (Strong Buy).