Ford stock (NYSE:F) demand remained solid despite the reduction in sales, with retail orders for vehicles from the 2023 model year up 244% over those of the 2022 models, totaling 197,000 vehicle orders. This was even though sales decreased.
The sales of electric vehicles almost tripled during September, with the F-150 Lightning continuing to be the best-selling electric pickup truck in the United States. During September, sales for Ford Motor Company (NYSE:F) were down by nine percent, but sales of electric vehicles almost tripled.
The automobile manufacturer said total sales in the United States for the previous month were 142,644, declining from 156,614 in September 2021. To break it down further, sales of automobiles went up by 24%, sales of sport utility vehicles went up by 0.9%, while sales of trucks went down by 18%, bringing the total to 68,299.
Ford Stock After Increase in EV Sold
It would imply that Ford’s drive toward electric vehicles is also gathering up speed, as indicated by the previous sentence. The company said that its market share of the electric vehicle (EV) market climbed by 3.1 percentage points year-over-year to 7%, and sold units increased by 197% to 4,691. The Ford F-150 Lightning was the best-selling electric pickup in the United States in December, with a total of 8,760 sold since its introduction in June, while the Ford E-Transit was the best-selling electric van in the United States in November. The Ford E-Transit was also the best-selling electric van in the United Kingdom in December. The automotive powerhouse Ford is responsible for producing both of these automobiles.
On Tuesday, the price of each share of stock was higher by more than 6.4%.
According to Ford’s Vice President of Sales, Distribution, and Trucks, Andrew Fick, “Ford continues to see high-demand cars turning at record rates in September.” “In addition, we expanded our overall truck leadership while developing a leading position in the electric truck and van markets.” “New retail orders are rapidly increasing, indicating that demand continues to be strong.”
Great Electric Vehicle (EV) Sales Were Generated by General Motors (GM +8.91%)
General Motors EV Bolt Sales Set a Record
During the third quarter of 2018, General Motors delivered 14,709 Chevrolet Bolt electric vehicles. This figure doubles the total number of Bolts delivered yet in 2018, which stands at 22,012 units. General Motors is increasing the production of the vehicle to fulfill the high demand for the Bolt.
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