Economy

Ford quarterly U.S. auto sales rise on strong SUV, EV demand

Economy46 minutes ago (Jul 02, 2021 10:02AM ET)Ford quarterly U.S. auto sales rise on strong SUV, EV demand© Reuters. FILE PHOTO: The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid

(Reuters) – Ford Motor (NYSE:F) Co’s U.S. auto sales in the second quarter rose 9.6% to 475,327 units, benefiting from strong SUV and EV demand in June, the No.2 U.S. automaker said on Friday.

The company posted a 117% rise in U.S. electric and hybrid vehicle sales for June. Ford-branded SUV sales rose 37% in June while its Lincoln SUV sales increased 23.3%.

Ford sold 12,975 units of its Mustang Mach-E SUV in the first six months of this year. The company is poised to launch the electric version of its best-selling F-150 pickup in 2022.

Automakers in the United States are benefiting from strong demand as consumers opt for personal transport during the COVID-19 pandemic. Low interest rates and government stimulus are also helping drive sales.

However, supply has been constrained due to a global semiconductor shortage.

“With constrained inventories and record turn rates in the second quarter, we have been working closely with our dealers gathering retail orders, which are up 16-fold over last year,” Ford said in a statement.

General Motors Co (NYSE:GM) reported on Thursday its U.S. auto sales jumped to 688,236 vehicles in the quarter.Ford quarterly U.S. auto sales rise on strong SUV, EV demandAdd a Comment

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