December 9, 2023

Ford Motor Company F,
US vehicle sales in September fell 8.9% to 142,644 vehicles from a year earlier, as a major drop in truck sales nearly tripled sales of electric vehicles, it said on Tuesday. The auto maker’s stock gained 5.3% in morning trading after gaining 2.4% on Monday to bounce back to Friday’s two-month low. Ford said September truck sales fell 18.3% to 68,299, as F-Series sales fell 26.6% to 46,338 vehicles. Sport utility vehicle (SUV) sales rose 0.9% to 70,887, as Escape model sales rose 7.0% to 12,265 vehicles and Bronco sales rose 220.7% to 10,892, while Explorer sales fell 17.5% to 16,577. For electric vehicles, sales rose 197.3% to 4,691, including 1,918 F-150 Lightning vehicles, increasing Ford’s EV market share to 7.0% from 3.9% a year ago. Andrew Frick, vice president of sales, distribution and trucks, said, “Ford continues to see high-demand vehicles at record rates in September while developing electric truck and van leadership and expanding our overall truck leadership.” “Demand remains strong with a rapid expansion of new retail orders.” Ford’s stock was still down 41.8% year on year, while shares of rival General Motors Co., GM,
40.7% and the S&P 500 SPX is down,
has declined by 21.2%.

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