Ford US Sales Plunge 10% in Q2 Amid F-150 Inventory Issues
F sits 29% above its 52-week low of $10.68.
Summary
Ford's U.S. sales dropped 10.3% in the second quarter, totaling 549,200 units, down from 612,095 units a year ago. The decline is primarily due to lower inventory of its crucial F-150 pickup trucks. This significant sales decrease in a core market will negatively impact Q2 revenue and could temper the positive outlook from the robust Q1 earnings and raised full-year guidance reported in April.
At the time of this announcement, F was trading at $13.75 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $54.4B. The 52-week trading range was $10.68 to $17.78. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.