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Ford Slips On Missing Expectations As U.S. June Vehicle Sales Fall 27%

imageStock Markets28 minutes ago (Jul 02, 2021 10:23AM ET)

(C) Reuters.

By Dhirendra Tripathi

Investing.com – Ford stock (NYSE:F) dipped 0.5% during Friday’s trading as its U.S. vehicle sales in June fell 26.9% from a year ago to 115,789 units.

The drop was a combination of a sharp fall in car sales, which as such form a miniscule part of Ford’s monthly sales, and a big drop in truck sales as well. They comprise more than half of those sales.

Car sales fell nearly 82% and those of trucks were down 27%.

The transaction price of $47,800 for each Ford vehicle was up 15.5% or $6,400 from over a year ago.

Ford sales of electrified vehicles expanded 117% in June, capping off a new first-half record of 56,570 vehicles.

The company said reservations for its electric F-150 Lightning, which the company started taking in May, have topped 100,000. The pickup is due to be on the road next year.

With just 11 days to turn, Ford said “Mustang Mach-E is essentially selling as soon as it arrives at dealers.” The company has sold 12,975 Mustang Mach-Es through the first half of the year.

Ford Slips On Missing Expectations As U.S. June Vehicle Sales Fall 27%

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