tiprankstipranks
Ford Post Record-Breaking January Sales
Market News

Ford Post Record-Breaking January Sales

The Ford Motor Company (F) started the year with record-breaking delivery numbers in January. Ford’s deliveries have set the momentum for one of the best years for the automaker, particularly in the electric vehicle (EV) segment.

Don't Miss Our Christmas Offers:

Remarkably, Ford brand sales are up 1.4% while the overall industry has declined 9%. After rising almost 2% in the early market trading, shares closed flat at $20.63 on February 2.

Although U.S. sales remained flat compared to January 2020, Ford’s SUV and EV sales boosted the company’s overall monthly output. Additionally, Ford hit an all-time high record with 90,000 new retail vehicle orders, up 26.7% year-over-year and significantly higher than just 20,000 orders received in December.

Additionally, filling retail orders hit fresh highs as vehicles moved out faster from dealer lots, and 37% of retail sales came in from previously placed customer orders.

Numbers in Detail

Ford’s total U.S. sales were 143,531 remaining flat. Total truck sales fell 4.3% to 71,734, out of which Ford pickups including F-Series, Ranger, and Maverick sales totaled 62,293, outpacing General Motors (GM) full pickup truck line in January.

Ford’s SUV (which includes Lincoln) sales climbed 8.5% to 66,122 with Ford brand SUV sales of 60,382. Ford’s new lineup of SUVs including Bronco, Bronco Sport, and Mustang Mach-E sales totaled 16,692, and Escape sales posted a 17.2% year-over-year gain.

Notably, Ford electrified vehicle sales jumped 167.2% to 13,169 in January. The robust sales represent a four-fold jump over the overall electrified segment. Ford’s electric E-transit vans witnessed huge demand, with more than 300 business customers ordering 10,000 vans.

American retailer Walmart Inc. (WMT) is also set to take delivery of 1,100 E-transit vans. A Bloomberg report also suggested that Ford is planning to accelerate investment in EV by $20 billion, clearly mirroring the company’s push in the EV segment.

Executive Comments

Delighted with the company’s performance, VP- Ford Sales U.S. and Canada, Andrew Frick, said, “Ford market share increased over a year ago on strong demand for our newest products such as Bronco, Maverick, and Mach-E. Ford took in a record 90,000 new vehicle orders in January. Vehicles are turning at a record pace on dealer lots, as we work to fill these orders. This year represents a turning point for Ford in electrified vehicles, as our electrified portfolio grew at nearly four times the rate of the industry segment, with E-Transit and F-150 Lightning set to hit the market.”

Wall Street View

The Wall Street community is cautiously optimistic about the stock with a Moderate Buy consensus rating based on 7 Buys, 7 Holds, and 2 Sells. The average Ford Motor price target of $24 implies 16.3% upside potential to current levels. Shares have gained a whopping 144.7% over the past year.

Stock Investors

TipRanks’ Stock Investors tool shows that investor sentiment is currently Very Positive on Ford, with 2.9% of portfolios tracked by TipRanks increasing their exposure to the F stock over the past 30 days.

Download the TipRanks mobile app now

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Read full Disclaimer & Disclosure

Related News:
Tesla Recalls 53K Cars to Disable Rolling Stop Feature
UPS Delivers Stellar Q4 Results; Shares Hit All-Time High
MicroStrategy Delivers Mixed Q4 Results; Adds Bitcoins

Go Ad-Free with Our App