Shares of Ford Motor Co. F, +5.80% rallied 2.0% toward a 5 1/2-year high in morning trading Thursday, after the automaker said total U.S. sales in May rose 4.1 to 161,725 vehicles, as jumps SUV and electrified vehicle sales offset declines in truck and car sales. Meanwhile, retail sales fell 11.2%. SUV sales rose 48.6%, with Lincoln-brand SUV sales rising 24.3% and Ford SUV sales climbing 51.8%, with Expedition sales up 110.4%, Escape sales up 51.4% and Explorer sales up 2.1%. Truck sales dropped 11.6%, with F-Series sales dropping 29.2%, while Ranger sales rose 41.8% and Transit sales increased 55.1%. Car sales tumbled 62.4%, with Mustangs down 24.7% and Fusions down 85.4%. Electrified vehicle sales nearly tripled (up 184%) to reach a record 10,364 vehicles. “We have been receiving a massive number of reservations for our all-electric F-150 Lightning over the last two weeks — totaling over 70,000 trucks,” said Andrew Frick, vice president, Ford Sales U.S. and Canada. The stock, on track to close at the highest level since October 2015, has run up 72.9% year to date, while the S&P 500 SPX, -0.63% has gained 11.2%.

Leave a Reply

Your email address will not be published. Required fields are marked *