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Ford reports big jump in July sales, including for trucks and EVs

Ford F-150 Lightning at the 2022 New York Auto Show.

Scott Mlyn | CNBC

DETROIT – Ford Motor’s U.S. vehicle sales last month showed notable improvements in volumes and truck availability, as the automotive industry continues to battle through a global shortage of semiconductor chips and other supply chain problems.

The Detroit automaker on Wednesday said its new vehicle sales rose 36.6% in July from a year ago, compared to industry sales that were estimated to have declined by 10.5%. Ford’s vehicle production and sales were down a year ago more than others due to a fire at one of its chip suppliers in Japan that forced production cuts during the first half of 2021.

Sales of Ford’s profitable F-Series pickups hit 63,341 in July – marking the first-time units have topped 60,000 this year. The sales were up 21.1% compared to a year ago and up roughly 10% from the previous month.

Ford also said its share of electric vehicle sales last month hit a record 10.9%, as the company increases production and availability of the F-150 Lightning pickup, Mustang Mach-E crossover and E-Transit van.

This is a developing story. Please continue to check back for updates.

Read More: Ford reports big jump in July sales, including for trucks and EVs

2022-08-03 08:20:58

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