Ford (F) Stock Down After April Sales Miss Estimates, Jim Cramer’s Take
NEW YORK (TheStreet) -- Ford Motor (F) - Get Report stock is falling 1.62% to $13.40 in late morning trading on Tuesday after the automaker reported a 4% year-over-year increase in U.S. April sales, falling short of Edmunds.com estimates that called for 4.5% rise, according to CNBC.
Dearborn, MI-based Ford sold 231,316 vehicles in April with SUV sales gaining 7.7% and truck sales rising 14.8%, which offset a 12% drop from cars sales.
F-Series sales were up 12.6% last month with 70,774 trucks sold, while sales of the Explorer SUV jumped 22.3% to 20,283 vehicles.
"The F-150 sales are extraordinary," TheStreet's Jim Cramer, portfolio manager of the Action Alerts PLUScharitable trust, said on CNBC's "Squawk on the Street" this morning. "It's not just the sales, it's the mix."
Cramer explained that domestic auto stocks are inexpensive and will continue to see sales improve oversees as the dollar weakens against the yen and the euro.
"You are going to regret selling these stocks on these figures," Cramer added.
(Ford is held in David Peltier's Dividend Stock Advisor portfolio. See all of his holdings with a free trial.)
