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.

Invest with Confidence:

Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.

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