| 27 May 2024, Monday |

Ford U.S. auto sales surge in Q2 on strong SUV, EV demand

Ford Motor Co’s U.S. auto sales in the second quarter surged 9.6 percent to 475,327 units, benefiting from strong SUV and EV demand in June, the No.2 U.S. automaker said on Friday.

The company registered a 117 percent rise in U.S. electric and hybrid vehicle sales for June. Ford-branded SUV sales rose 37 percent in June while its Lincoln SUV sales increased 23.3%.

Ford sold 12,975 units of its Mustang Mach-E SUV in the first six months of this year. The company is poised to launch the electric version of its best-selling F-150 pickup in 2022.

Automakers in the United States are taking advantage from strong demand as consumers choose for personal transport during the COVID-19 pandemic. Low interest rates and government stimulus are also helping drive sales.

However, supply has been constrained due to a global semiconductor shortage.

“With constrained inventories and record turn rates in the second quarter, we have been working closely with our dealers gathering retail orders, which are up 16-fold over last year,” Ford said in a statement.

General Motors Co reported on Thursday its U.S. auto sales jumped to 688,236 vehicles in the quarter.

  • Reuters