Ford at 5 1/2-Year High as May Electrified-Vehicle Sales Nearly Triple

Ford climbs to a 5 1/2-year high as electrified-vehicle sales hit a record 10,364 in May.
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Ford  (F) - Get Report shares jumped Thursday to a 5 1/2-high after the automaker said that last month electrified-vehicle sales nearly tripled and total sales climbed 4.1%.

Shares of the Dearborn, Mich., company at last check were up 6.6% at $15.90.The stock is up 76% year-to-date. 

The shares closed at $15.68 on Oct. 26, 2015, and last closed above $16 on April 29, 2015, when they finished at $16.02. 

The company said U.S. vehicle sales totaled 161,725 in May, up 4.1% from a year earlier. Retail sales for the month were down 11.2% from last year. Truck sales were down 11.6%.

Ford said electrified-vehicle sales rose 184% to a record 10,364 vehicles in May. 

The growth came from the Mustang Mach-E, which totaled 1,945 vehicle sales, while the F-150 PowerBoost pickup totaled 2,852. 

Escape electrified sales totaled 3,617, more than double (up 125%) the year-earlier figure. Explorer hybrid SUV sales rose 132% from a year earlier on sales of 1,156.

Last month, Ford unveiled the F-150 Lightning all-electric pickup. Overall F-Series rose 4.7% to 316,359.

"We have been receiving a massive number of reservations for our all-electric F-150 Lightning over the last two weeks – totaling over 70,000 trucks," Andrew Frick, vice president of Ford sales for the U.S. and Canada, said in a statement. 

"Ford-brand SUVs had their best May sales in 18 years, while Lincoln SUVs posted a new May record.” 

Retail orders for F-Series trucks are up threefold over last year, the company said, adding that Ford continues to fill orders as more semiconductors become available.

A widely reported global chip shortage has sharply hurt the auto industry.

Ford said last month that it would trim output of its vehicles, including its top-selling F-150 truck, intermittently through June at eight North American plants, due to the semiconductor shortage.

Lincoln SUV sales were up 24.3% across the entire lineup in May with a total of 7,871 SUVs sold.

Average transaction prices at Ford were up about $3,400 from a year earlier. Bronco Sport and Mustang Mach-E, Ford's new products, reported combined sales of 16,892 vehicles.

Last month, Ford dramatically increased its clean energy vehicle investment plans by $8 billion and vowed to have 40% of its fleet fully electric within the next decade.

Separately, General Motors GM said it expected its first-half earnings to be "significantly better" than previous forecasts as semiconductor shipments improve and plants around the country return to full capacity.

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