Namely, the firm managed to increase sales in the U.S. by 31.5% to 152,262 vehicles delivered in June, compared to a 4.5% decline it posted for May. While its share of the U.S. market expanded to 12.9% as the sales outperformed the industry. Further, for June, truck sales jumped by 26.4% year-on-year (YoY), car sales increased 62.2% YoY, SUVs increased 36.1% YoY, and finally, electric-vehicle (EV) sales jumped 76.6% YoY. The best-selling vehicles included a strong showing by their F-Series and an SUV mix.
F chart and analysis
Shares of the company are down over 48% year-to-date (YTD), with price action well below all daily Simple Moving Averages (SMAs); just over the last month, the shares lost over 16%. Moreover, despite posting strong sales numbers, the shares finished the last session in the red on increased trading volume. On the other hand, analysts are rating the shares as a moderate buy, with average price predictions for the next 12 months at $18.81, 67.95% higher than the current trading price of $11.20.
Passable showing
Additionally, Andrew Frick, vice president of Sales, Distribution & Trucks, Ford Blue, touched on delivery despite supply chain constraints. Despite having strong numbers, analysts were seemingly disappointed by the figures, as the figure climbed just 1.8% compared to the previous year. Considering global macro issues and supply chain constraints, the numbers delivered could be viewed in a more positive light. Investors looking to add an auto stock to their portfolio may have a solid entry position if they are bullish on the auto sector as a whole. Buy stocks now with Interactive Broker – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
