Ford Shares Rise Despite August Sales Decline Amid Strong F-Series Production
On September 2, Ford Motor Company (F) shares rose by 2.17% to $14.14 despite reporting an eighth consecutive month of year-over-year sales declines in the U.S., with a drop of 10.3%. The stock's performance was buoyed by strong production figures for its highly profitable Super Duty trucks, which reached a 20-year high last month and F-150 pickups hitting their highest output in two years. Investors were also influenced by Ford’s strategic pivot to energy storage through the formation of Ford Energy earlier this year. This shift helped offset concerns over plunging electric vehicle (EV) sales, which fell nearly 80%, and hybrid sales down 20%. The broader market saw modest gains with the S&P 500 rising 0.47% and Nasdaq Composite up 0.45%. The automotive sector showed mixed results as Ford outperformed its peers like General Motors (GM) and Stellantis (STLA), which both declined in value during the session.
Topics: automotive industry Ford Motor production increase sales decline