Ford Sales Jump but lower than Analyst Expectations
Jul 5, 2022 By MarketDepth
Ford (F:NASDAQ) announces U.S. June sales results and increasing Year over Year sales was not enough to beat analyst expectations.With an 11% decline in industry sales Ford beat the trend but still fell short of expectations. Ford’s U.S. Market share improved too 12.9%.
Ford said truck sales for the month increased 26.4% to 79,823 vehicles, sport-utility vehicle (SUV) sales climbed 36.1% to 67,788 vehicles and electric vehicle (EV) sales hiked up 76.6% to 4,353 EVs.
Ford stock is down almost 4% on the day and is down 48% on the year.
“Amid industry-wide supply constraints, Ford outperformed the industry driven by strong F-Series, Explorer and new Expedition and Navigator SUV sales. Combined, these vehicles represented just over 56 percent of our sales in June – up about 8 percentage points from May. F-150 Lightning was America’s best-selling electric truck in June in its first full month of sales, while our overall electric vehicle sales were up 77 percent over last year.”
Andrew Frick, vice president, Sales, Distribution & Trucks, Ford Blue
Ford Sales are up 31.5% from last year despite ongoing semiconductor and supply chain issues.
