Ford September sales fall as drop in trucks offsets near tripling in EVs, but stock jumps over 5%

Ford Motor Co. said Tuesday that September U.S. vehicles sales fell 8.9% from a year ago to 142,644 vehicles, as a big drop in truck sales offset a near tripling in electric vehicle sales. The auto maker’s stock charged up 5.3% in morning trading, after rallying 2.4% on Monday to bounce off Friday’s two-month low. Ford said September truck sales dropped 18.3% to 68,299, as F-Series sales sank 26.6% to 46,338 vehicles. Sport utility vehicle (SUV) sales increased 0.9% to 70,887, as sales of the Escape model rose 7.0% to 12,265 vehicles and Bronco sales jumped 220.7% to 10,892, while Explorer sales fell 17.5% to 16,577. For electric vehicles, sales surged 197.3% to 4,691, including 1,918 F-150 Lightning vehicles, to increase Ford’s EV market share to 7.0% from 3.9% a year ago. “Ford continued to see high-demand vehicles turning at record rates in September, while developing electric truck and van leadership and extending our overall truck leadership,” said Andrew Frick, vice president of sales, distribution and trucks. “Demand remains strong with new retail orders rapidly expanding.” Ford’s stock was still down 41.8% year to date, while shares of rival General Motors Co. has lost 40.7% and the S&P 500 has lost 21.2%.

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