Ford reports big jump in July gross sales, including for trucks and electric vehicles

DETROIT – Ford Motor’s U.S. car gross sales final month confirmed notable enhancements in volumes and truck availability, following a hearth at a provider’s plant in Japan that harm its year-ago gross sales.

The Detroit automaker mentioned Wednesday its new car gross sales rose 36.6% in July from a 12 months in the past, in comparison with business gross sales that had been estimated to have declined by 10.5%. Ford’s July gross sales of 163,942 vehicles had been up 7.7% from June.

A 12 months in the past, Ford’s car manufacturing and gross sales had been down greater than different automakers as a result of a hearth at one among its chip suppliers in Japan that compelled manufacturing cuts throughout the first half of 2021.

Ford F-150 Lightning on the 2022 New York Auto Show.

Scott Mlyn | CNBC

Ford’s inventory was up by as a lot as 6.5% throughout intraday buying and selling Wednesday earlier than closing at $15.69 a share, up 3.5%. Despite having its greatest efficiency final month because the Great Recession, the inventory stays down about 25% in 2022.

Sales of Ford’s worthwhile F-Series pickups hit 63,341 in July – marking the primary time models have topped 60,000 this 12 months. The gross sales had been up 21.1% in comparison with a 12 months in the past and up roughly 10% from the earlier month.

Ford mentioned its share of the U.S. electric car market final month hit a report 10.9%, as the corporate will increase manufacturing and availability of the F-150 Lightning pickup, Mustang Mach-E crossover and E-Transit van.

Ford mentioned electric car gross sales totaled 30,648 models via July. That included gross sales of about 7,700 vehicles in July, which was 169% improve from a 12 months in the past.

Sales of all Ford’s vehicles, including its luxurious Lincoln model, totaled greater than 1 million models via July, a 3.3% lower from a 12 months in the past. At the tip of final month, the automaker’s U.S. car stock was about 245,000 models, up from 160,000 in July 2021.

Cox Automotive expects complete U.S. car gross sales to be 14.4 million models in 2022, down from a earlier forecast of 15.3 million, as a result of better than anticipated provide chain points. At present gross sales charges, new-vehicle gross sales this 12 months would end under 2020, when the coronavirus pandemic compelled sellers and factories to briefly shutter.

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