In October, U.S. sales decreased 10% year over year to 158,327 vehicles, according to Ford Motor Company (NYSE:F). Retail sales during the month fell 18.6% year over year. Retail truck sales declined 21% year-on-year, and truck sales overall dropped 7.7% year-on-year to 87,205 units. SUV sales fell 14.1% year over year in March to 67,266 units, and retail SUV sales fell 18.2%. Ford stock slightly dropped and was trading on Wednesday at $13.23 as of 10:19 AM EDT.

Sales of EVs increased 119.8% year over year to 6,261 vehicles, with retail sales up 79.1%.

With sales of 2,436, the F-150 Lightning has maintained its position as the most popular electric truck in America since its launch this year.

With cumulative sales of 523,712 cars, the F-Series increased its lead as the best-selling truck in America for the month of October. Sales of the Mustang Mach-E rose 7.3% year over year.

Sales of Maverick increased by 123% year over year to 9,233 trucks, with the Maverick Hybrid representing around 47% of those sales.

“Orders for ’23MY’ vehicles are up 134 percent from this time last year, demonstrating Ford’s continued strong consumer demand for its automobiles. In just five days, the brand-new Super Duty received a record 52,000 orders. The F-Series maintained its top spot as the most popular truck in America, increasing its advantage over our closest rival to more than 100,000 vehicles this year. Our sales of electric vehicles have doubled. Since its release, the F-150 Lightning has achieved its greatest monthly sale. The business reduced the price of the Mustang Mach-E in China last week. Over the course of a year, the stock fell by more than 25%.

Ford statistics

Ford reported profits late on Wednesday; the company’s figures weren’t particularly bad, but they weren’t quite as strong as GM’s. Ford reported a 10% increase in sales to $39.4 billion and produced a respectable $3.6 billion in free cash flow.

But Ford’s FCF figure fell by 54%, while GM’s FCF increased. Ford also disclosed a net loss of $827 million, or $0.21 per share, for the quarter. Although a $2.7 billion noncash impairment loss on its investment in the autonomous vehicle company Argo AI prevented Ford from being profitable, even accounting for that charge, Ford’s pro forma earnings for the quarter would have been only $0.30 per share, down 41% from the prior year.

For the sake of shareholders, last week’s investors were understanding. In the end, Ford stock increased 8.8% from where it started the week; this was not quite as strong as GM stock’s 11% rise, but it was still respectable. The issue is that, in my opinion, Ford didn’t deserve to be up at all on these results.

Ford stock value

Ford stock presently trades at between 5.3 and 5.6 times its expected free cash flow for 2022, depending on where it sits on that range, with a market capitalization of slightly over $53 billion. Ford does, indeed, have its issues. I believe it is evident that Ford is not operating as well as a corporation as its competitor is, given GM’s success over the most recent quarter. 

Ford Stock Drops As Automakers Are Expanding Their Presence In Mexico In Support Of EV Ambitions