Loading...
Loading...
Shares of
Ford Motor CompanyF were trading lower by more than 2 percent on Tuesday despite the company
reporting its April U.S. auto sales data.
Ford said that its total U.S. auto sales rose 4 percent year-over-year to 231,316 units.
CNBC's auto expert Phil LeBeau pointed out that Ford's recorded 4 percent gain in sales is "slightly" below Edmunds.com's estimates for a 4.5 percent gain.
LeBeau noted that for more than a year, trucks and utility sales are becoming an increasingly important component of the overall sales mix, particularly at Ford. He pointed out that Ford recorded a 12.6 percent gain in F-series truck sales as the company is "finally getting the full year rotation in terms of sales and production of the F-series" at various production facilities.
On the other hand, LeBeau said that "people are just moving away from cars" and this is not unique to Ford. Nevertheless, the automaker did report a 11.5 percent decline in car sales in April.© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
