Ford Motor (F) said Thursday that its Q1 total sales declined 8.8% from a year ago due to a strategic shift to high-margin sports utility vehicles, or SUVs, and a notably strong performance in the same quarter last year.
Electric vehicle sales dropped roughly 70%, while hybrid vehicles fell more than 19% year over year. Internal combustion vehicle sales also declined by 4.3% from a year ago, the carmaker said.
SUV and truck sales for the quarter fell by 7.8% and 11.3%, respectively, while car sales grew by 50.1%, Ford said.
Price: 11.41, Change: -0.27, Percent Change: -2.29
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