Ford quarterly U.S. auto sales rise on strong SUV, EV demand
Reuters
Published Jul 02, 2021 09:55AM ET
(Reuters) - Ford Motor (NYSE:F) Co's U.S. auto sales in the second quarter rose 9.6% to 475,327 units, benefiting from strong SUV and EV demand in June, the No.2 U.S. automaker said on Friday.
The company posted a 117% rise in U.S. electric and hybrid vehicle sales for June. Ford-branded SUV sales rose 37% in June while its Lincoln SUV sales increased 23.3%.
Ford sold 12,975 units of its Mustang Mach-E SUV in the first six months of this year. The company is poised to launch the electric version of its best-selling F-150 pickup in 2022.
Automakers in the United States are benefiting from strong demand as consumers opt for personal transport during the COVID-19 pandemic. Low interest rates and government stimulus are also helping drive sales.
However, supply has been constrained due to a global semiconductor shortage.
"With constrained inventories and record turn rates in the second quarter, we have been working closely with our dealers gathering retail orders, which are up 16-fold over last year," Ford said in a statement.
General Motors Co (NYSE:GM) reported on Thursday its U.S. auto sales jumped to 688,236 vehicles in the quarter.
Get The News You Want
Written By: Reuters
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.