At the end of May, the shares of Ford Motor grew by 8.5% after the management made some loud announcements on Investor's Day. Especially ambitious sounded the words of Jim Farley, director-general, who shared their plans to conquer the global market. Now that we have the operational results for May 2021, let's check whether the plans are coming to life.
Ford sales in the US market in May 2021
On May 2nd, Ford Motor Company published the operational results of the previous month, describing in detail how many cars they sold totally, of which class, and how much more of them were sold inside the USA compared to the previous year.
- Last month, the car-making giant sold 161,725 Ford and Lincoln cars, which is 4.1% more than in May 2020.
- There were sold 5,926 passenger vehicles, which is 62.4% fewer than in May 2020; as for pickups, vans, and trucks, there were sold 75,665 vehicles, which means a decline by 11.6%. However, 4x4s and crossovers demonstrated an increase in sales by 48.6% (80,134 cars sold).
- The sales volume of electric cars increased by 184%, reaching 10,364 cars. Analysts note that this is one of the key reasons for the growth of the stock price.
- The sales of Ford novelties were brilliant: 16,892 Bronco Sport and Mustang Mach-E cars sold.
- As for trucks apart from pickups and vans, sales increased by 118.3% to 1,205 cars.
- The sales of Lincolns grew by 5% to 8,134 vehicles.
The most popular classes of cars were 4x4s and crossovers. There were 7,871 such vehicles sold, which is 24.3% more than in May 2020.
Ford Motor Company shares grew by 7%
The market reacted positively to the publication of performance in May. The stock price of Ford Motor Company (NYSE: F) grew by 7.24%, reaching $15.99. However, on the next day, trades closed with a minor decline by 0.13% to $15.97.
If we compare the current stock price to that of last year, we will see an increase by 228.6%. As you remember, on May 4th, 2020, Ford shares cost $4.86 each.
Ford Motor published sales statistics in the US for May 2021. Many experts noted a fair increase in electric cars sales — by 184%.
After such news, the claims of the company's managent to capture the global market of electric cars look more solid. As a result, the shares grew by 7.24%.
What else to read about carmakers shares on R Blog?
- How Did Volkswagen Shares React to Quarterly Report?
- Carmakers Decrease Production: How to Make Money on This?
- Volkswagen Shares: Country’s Priciest Company Sent DAX to Highs
- Volkswagen Stocks: We Haven't Seen Such Growth