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%.