Ford Motor Co Sees Slight Stock Price Increase Amid EV Sales Dip
Ford Motor Co’s stock price has seen a slight increase, rising by 0.55% on the day, following a 3.35% gain the previous day. This comes as a surprise to many, considering the company’s electric vehicle (EV) sales took a hit in the second quarter.
A major recall of over 300,000 Mach-e vehicles was a significant contributor to the 31.4% drop in Q2 EV sales. However, the company’s hybrid and gas-powered vehicle sales helped offset losses in the electric segment. In fact, Ford reported a 14.2% increase in U.S. vehicle sales for the second quarter, with total electrified vehicle sales growing 6.6%.
While the EV segment may have taken a step back, Ford is already looking to the future. The company plans to bounce back with lower-cost EVs starting in 2027. This move is expected to make EVs more competitive in the market and potentially attract more customers.
Key Takeaways:
- Ford’s stock price rose by 0.55% on the day, following a 3.35% gain the previous day
- Q2 EV sales dropped by 31.4% due to a major recall of over 300,000 Mach-e vehicles
- Hybrid and gas-powered vehicle sales helped offset losses in the electric segment
- Ford reported a 14.2% increase in U.S. vehicle sales for the second quarter
- Total electrified vehicle sales grew by 6.6% in the second quarter
- Ford plans to launch lower-cost EVs starting in 2027