Ford U.S. Sales Jump in June to Buck Industry Declines, but Stock Falls Toward 17-Month Low

Dow Jones2022-07-05

Ford U.S. sales jump in June to buck industry declines, but stock falls toward 17-month low.

Shares of Ford Motor Co. $(F)$ dropped 5.79% toward a 17-month low in morning trading Tuesday, even after the automaker reported a year-over-year jump in U.S. vehicles sales for June despite ongoing industry semiconductor and supply constraints.

The company said total sales rose 31.5% to 152,262 vehicles, bucking the 11% decline in overall industry sales, as Ford's U.S. market share improved to 12.9%.

Ford said truck sales for the month increased 26.4% to 79,823 vehicles, sport-utility vehicle sales climbed 36.1% to 67,788 vehicles and electric vehicle (EV) sales hiked up 76.6% to 4,353 EVs. Ford's stock has tumbled 48.0% year to date, while rival General Motors Co. shares $(GM)$ have slumped 47.5% and the S&P 500 has lost 21.2%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
11