Ford stock rises on Q3 car sales, EV deliveries
Yahoo Finance Live anchors discuss the rise in shares for Ford.
Video Transcript
- Welcome back. We're just a few moments until the opening bell. And we've got Ford Motor shares that are rising after the company came out with September sales. It's later than the other automakers that reported their numbers yesterday, interestingly enough. But the company is saying that its sales overall fell 8.9% in September to 142,644. Its sales did rise into third quarter overall. Again, we heard from the other automakers yesterday. And the Ford shares are higher on this, guys.
Yeah. That's right. We heard from GM yesterday. GM, they had talked about a sales trifecta-- their words-- for Q3. Number one, full-size SUVs, pickups, large luxury SUVs. But they had sold 555,580 vehicles. And for some of the even monthly or quarterly results that we continue to watch come out for Ford, what's really interesting and sticks out is even as you're looking at some of the total sales declines of about 9%, much of that came in in the truck division actually. That was coming in at about 68,299 total US sales for the truck division. And that was down versus September 2021 by about 18%. However, EVs, interesting, that jumped by about 197.3%. Of course, largely different picture than this time last year in terms of the Ford production or even orders that they're taking on in the EV division.
- Yeah. I think we have to keep in mind what drove Ford's stock price for much of this year and then even late last year. It is that hype and that excitement around their EVs. And Brad, I'm glad you mentioned it because you're right. Those EV sales up 197.3% year over year in September. That is a good number. And I think that's what the market is trading. But keep in mind, what was it, about a week and a half ago, two weeks ago, Ford came out here and warned they are having issues in their supply chain, just like a lot of other automakers. And now there's cars just sitting on the dealer lots unable to be delivered to customers.
- I mean, how many EVs did they have available last year? at this same time.
- Yeah. I mean, the comparisons are favorable.
- So in other words, if you're seeing a huge increase, it's because they didn't have-- I mean, it's versus--
- Mach-E. F-150 Lightning.
- It's versus very little even product offerings out there. And so when you're growing from--
- They beat Tesla.
- --almost nothing. In terms of growth?
- In terms of growth.
- Well, I mean, again, you're coming from almost nothing.
- Looking for something positive today.
- So it makes sense.
