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Ford Lower After April Retail Sales Rise 57%

Ford’s retail sales climb 57% in April and total sales advance 65%. Investors still push down the shares.
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Ford Motor  (F) - Get Ford Motor Company Report reported Tuesday that retail sales in April rose 57% from April 2020, which coincided with the pandemic, and 24% from April 2019, a year prior to the pandemic.

Taken together, retail truck and SUV sales were up 70%, "providing Ford Truck and SUV sales with their best April retail sales performance since 2006,” the company said.

Ford’s total sales hit 197,813 in April, up 65% from 120,044 a year earlier.

At last check Ford stock traded at $11.33, down 2.6%. The Dearborn, Mich., auto giant's shares have leaped 44% over the past six months as investors bet on economic recovery.

Ford’s electric-vehicle sales registered a record monthly high of 11,172, more than triple (up 262%) the year-earlier figure. 

Mustang Mach-E sales totaled 1,951, F-150 PowerBoost sales totaled 3,365, and Escape sales totaled 3,695.

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Last week, Founder Jim Cramer picked Ford as an excellent stock to own for the rest of the year. 

Cramer said the stock had fallen to a point where the expectations were so low that Ford simply couldn't miss.

Also last week, Ford posted first-quarter earnings that beat analyst forecasts, and it reiterated guidance. 

But Ford also said second-half production would be hit dramatically by the global semiconductor shortage.

Ford reported adjusted profit of 89 cents a share, four times the 22-cent-a-share adjusted-profit estimate of analysts polled by FactSet.

Ford is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells F? Learn more now.