Ford Motor Co Reports Second Quarter Results

Ford Motor Co’s stock price increased by 3.35% in the second quarter, despite a decline in electric vehicle sales.

• Electric vehicle sales dropped by 31.4% in the second quarter, primarily due to a recall of over 300,000 Mach-e vehicles.
• The recall was a major factor contributing to the decline in electric vehicle sales.

Offsetting Factors

• Strong sales of hybrid and gas-powered vehicles helped offset the losses in the electric segment.
• The company reported a 14.2% increase in U.S. vehicle sales for the second quarter.

Electrified Vehicle Sales

• Total electrified vehicle sales grew by 6.6% in the second quarter.
• The company plans to introduce lower-cost electric vehicles starting in 2027.

Recalls

• Ford is facing a recall of over 200,000 vehicles due to a software defect causing the rearview camera to malfunction.
• The company is working to address the issue and minimize the impact on customers.