Ford sells 0.2% fewer vehicles in July, led by softer sales in SUVs and Transit vans
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Contributor since / Followers
Contributor since / Followers
2 months ago
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- Ford (NYSE:F) total vehicle sales were down 0.2% year-over-year in July to 173,223 with softer sales of the company’s SUVs and Transit vans contributing to the modest overall decline.
- Electric vehicle sales increased 31.2% from July 2023 while hybrid vehicles saw the largest increase overall, up 47%.
- By contrast, the company sold 5% fewer vehicles with an internal combustion engine, or ICE, typically the stalwart of Ford sales. Year-to-date, ICE sales are down 1.9% from the same time frame last year, with EV sales up 63.9% and hybrid sales up 49.2%.
- Ford (F) shares opened 2% lower. General Motors (GM) and Toyota are both down close to 3% followed by a 2% decline in shares of Stellantis (STLA) and Honda (HMC). EV shares are also in the red with TSLA down 1%, LCID lower by 4% and RIVN trading with a loss of 5%.