Ford (F) Q2 2022 US sales

Detroit – Ford Motor On Tuesday, it announced a slight increase in new car sales in the second quarter of the year, which missed the expectations of auto analysts.

Ford said second-quarter sales rose 1.8% from a year earlier, including a 31.5% increase in June. Analysts expected the Detroit automaker’s sales to increase between 3.3% and 5.1%.

Ford easily outperformed the industry during the quarter, with overall sales expected to decline in between 19% and 21% from the second quarter of 2021. Automakers have been scrambling to rebuild dealer stocks hard hit by production cuts amid a global shortage of semiconductor chips and other key auto components.

“Amid industry-wide supply constraints, Ford outperformed the industry driven by strong sales of the new F-Series, Explorer, Expedition and Navigator SUV. Combined, these vehicles represented just over 56 percent of our June sales—more than 8 points Celsius about the May, Andrew Frick, vice president of sales, distribution and trucking at Ford Motor Company, said in a statement.

Notably, Ford’s sales of F-Series pickups improved to 57,673 units in June — its highest monthly total for 2022. Sales include the F-150, including an all-electric version, and larger pickup variants.

Electricity sales F-150 Lightning continue to intensify. Ford said on Tuesday it sold a total of 2,296 trucks, including 1,837 vehicles, in June.