Sales of Ford Motor Company (NYSE:F)’s F-Series pickups and electric vehicles are on the rise.
On Thursday, the Detroit automaker reported February sales of 157,606 vehicles, up 22% year-over-year and 7.7% from January. A year ago, the company endured its worst month of 2022 due to supply chain issues.
Specifically, sales of Ford’s F-Series pickups surged 22% last month to roughly 55,000 vehicles, including 1,336 of the electric F-150 Lightning. F-Series pickup sales are up 15% in 2023.
Electric vehicle sales have been in focus for Ford, particularly after the company had to halt production and shipments of the F-150 Lightning in February due to a fire caused by a battery issue.
Sales of the Lightning were up 88% from a year earlier but still only represent 2.9% of the automaker’s sales through February.
Overall, Ford outpaced other automakers in what Street analysts considered to be a strong month for the sector as a whole.
BofA Securities estimated sales were up by 8.5% last month compared to February 2022, while Ford’s sales increased 22%, Hyundai-Kia’s increased 16.2% and Toyota Motor (NYSE:TM)’s were down 8.5%.
Shares of Ford gained 0.7% to US$12.41 in New York Thursday morning.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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