It used to be we cancelled vehicles that sold less than 10,000 per month. Any guesses on what one time accounting miracle will pull Q3 earnings out of the dumpster fire?
Ford Motor Co. reported August total vehicle sales that dropped by one-third from a year ago, with sharp declines in all types of vehicles, although electric vehicles sales jumped by two-thirds to a new August record. The automaker's stock was little changed in morning trading. Total sales were 124,176 vehicles, down 33.1% from a year ago, as trucks sales dropped 29.4%, SUV sales fell 25.3% and car sales slid 86.0%. Within trucks, F-Series sales fell 22.5% to 57,321 vehicles. Meanwhile, electrified vehicle sales rose 67.3% to 8,756 vehicles. Reservations for Ford's full electric F-150 Lightning truck surpassed 130,000 vehicles. On a monthly basis, Ford said August retail sales increased 6.5% from July, with F-Series retail sales growing 11% to mark the best F-Series sales month since the chip shortage began. Ford's stock has dropped 12.1% over the past three months through Wednesday, while the S&P 500 SPX, 0.20% has gained 7.9%.