Ford Motor Company (NYSE:F) increased US sales 15.2% last month, overtaking overall industry growth thanks to stronger truck and hybrid vehicle sales, compensating for soft demand for electric vehicles. Total market share for the Dearborn, Michigan company was boosted to 12.6%.
The auto maker's overall October number jumped. EV sales struggled, but hybrid sales remained hot.
Ford on Monday reported a 15.2% increase in U.S. new vehicles sales last month compared with subdued levels during a union strike in October 2023. Ford said its total U.S. market share increased 0.6 percentage points to 12.6% in October.
Ford Motor on Monday reported an about 15% rise in U.S. auto sales during October from a year earlier, aided by demand for its F-series trucks and hybrid models.
The U.S. safety regulator said on Monday it has closed a probe into an estimated 411,315 Ford SUVs and pickup trucks over a loss of motive power.
While disappointing, Ford's third quarter made something else apparent: There's still upside.
Lucid (NASDAQ: LCID) has had plenty of problems.
Ford has invested much capital into its digital and software services, and it's a move that could pay off.
One Wall Street analyst sees over 40% upside for Ford stock, but investors should be skeptical.
Ford Motor (F) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Ford stock fell by close to 8% on Tuesday, following the company's Q3 earnings report. Now revenues were better than expected coming in at $43 billion, up 5.5% year-over-year, earnings stood at $0.49 per share, slightly ahead of estimates and up $0.10 compared to last year.
Ford (F) is halting production of its all-electric F-150 Lightning pickup truck for at least several weeks as it faces softening demand for its electric vehicles, according to a Wall Street Journal report.