Why Ford Stock Is Surging Today

Why Ford Stock Is Surging Today

Ford Motor Co F shares are trading higher Tuesday after the company said its electric vehicle sales tripled last month. 

Ford said it sold a total of 142,644 vehicles in September, consisting of 68,299 trucks, 70,887 SUVs and 4,691 EVs. EV sales were up 197.3% on a year-over-year basis. Ford also said its EV share increased 3.1% to 7% of the total market. 

The F-150 Lightning was America's best-selling electric pickup truck last month. The company's E-Transit vans were America's best-selling electric vans in September. 

Ford also said its hybrid vehicle sales have jumped 22.6% so far in 2022 compared to last year. The company has sold 74,046 hybrids year-to-date. 

“Ford continued to see high-demand vehicles turning at record rates in September, while developing electric truck and van leadership and extending our overall truck leadership. Demand remains strong with new retail orders rapidly expanding," said Andrew Frick, vice president of sales, distribution and trucks, Ford Blue.

See Also: Why Rivian Stock Is Ripping Higher Today

F Price Action: Ford has a 52-week high of $25.87 and a 52-week low of $10.61.

The stock was up 6.41% at $12.21 at time of publication, according to Benzinga Pro.

Photo: courtesy of Ford.

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