Final hours! Save up to 55% OFF InvestingProCLAIM SALE

Ford trades up on positive EV sales report

Published 01/05/2023, 09:37 AM
Updated 01/05/2023, 09:45 AM
© Reuters.  Ford (F) trades up on positive EV sales report
F
-
TSLA
-

By Michael Elkins

Ford (NYSE:F) is up 0.83% in pre-market trading on Thursday following the release of the company’s December EV sales results. The American automaker reportedly sold 7,823 electric vehicles, up 222.6% when compared to the same time last year.

The F-150 Lightning was the No. 1 electric truck in America in December and the best-selling electric truck in the U.S. since its launch in May with 15,617 electric trucks sold. For the year, Ford sold 6,500 E-Transit vans, making it America’s best-selling electric van with a 73% share of the segment. December sales of E-Transit totaled 689. Mustang Mach-E sales climbed 103% in December on sales of 4,775.

"Much was accomplished in 2022," said Andrew Frick, vice president, Sales, Distribution & Trucks, Ford Blue, "with Ford increasing its share of the industry by 0.7 percentage points. Delivering on our strategy, share expansion came from broad- based growth from our SUV lineup and our all-new EVs growing at twice the rate of the overall EV segment. F-Series was America’s best-selling truck for the 46th consecutive year, outselling our second-place competitor by over 140,000 trucks, and the Bronco family of vehicles increased 51.3 percent. With a strong retail order bank, Ford is well positioned heading into 2023."

Ford sales of electric vehicles more than doubled in 2022, to 61,575 electric vehicles sold – double the rate of growth for the overall segment. Ford’s electric vehicle sales performance makes it the second largest maker of electric vehicles in the U.S. behind Tesla (NASDAQ:TSLA).

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.