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.
Author:
Publish date:

Ford Motor  (F) - Get 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.

Last week, TheStreet.com 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.