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Ford's EV Sales Nearly Tripled in September. The Stock Is Surging.Ford's EV Sales Nearly Tripled in September. The Stock Is Surging. Barron's (Online); New York Ford Motor sales fell 9% in September but electric-vehicle sales almost tripled with the auto maker's F-150 Lightning remaining the best-selling EV pickup truck in the U.S. The automaker said total U.S. sales were 142,644 last month, down from 156,614 in September 2021. Within that, car sales rose 24% and SUVs ticked up 0.9%, but trucks tumbled 18% to 68,299. Despite the sales dip, Ford (ticker: F) said demand was strong with retail orders for 2023 model year vehicles up 244% over 2022 models, at a total of 197,000 vehicle orders. Ford's EV push does also appear to be gathering pace. Sales climbed 197% to 4,691 in the month, while the company said its share of the EV segment rose 3.1 percentage points from last September to 7%. Ford's F-150 Lightning was the best-selling EV pickup — with a total of 8,760 sold since its launch in June — and the auto giant's E-Transit was the best-selling electric van in the U.S. last month. The stock jumped more than 6.4% on Tuesday. "Ford continued to see high-demand vehicles turning at record rates in September, while developing electric truck and van leadership and extending out overall truck leadership," Andrew Fick, Ford's vice president of sales, distribution and trucks said. "Demand remains strong with new retail orders rapidly expanding." General Motors delivered strong EV sales of its own Monday, selling 14,709 Chevy Bolt EVs in the third quarter, up from 4,515 delivered a year ago, its best-ever quarter for Bolt sales. |
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Msg # | Subject | Author | Recs | Date Posted |
2193 | Re: Ford's EV Sales Nearly Tripled in September. The Stock Is Surging. | StkMaven | 2 | 10/4/2022 8:23:09 PM |