Ford Motor Company F reported total unit sales of 433,869 in the second quarter of 2020. This marks a year-over-year plunge of 33.3% on a volume basis, mainly due to bleak demand for passenger cars and SUVs amid the coronavirus crisis.
Notably, the company reported truck sales volume of 237,891 in the quarter, reflecting a decrease of 26.6% year over year. Sales volume for passenger cars and SUVs were down 59.5% and 29.9%, year on year, with 44,650 and 151,328 vehicles sold, respectively during the period under consideration.
In second-quarter 2020, Ford Expedition sales slumped 42.4% year over year and the affordably-priced EcoSport registered a decline of 19.9%. Sales of Ford Mustang also slid 27.3% in the quarter, with 15,717 cars sold. Additionally, sales volume of Lincoln SUVs came in at 17,284, down 12.6% year over year in the reported quarter.
For June 2020, Ford Explorer became America’s best-selling mid-size SUV, with sales of 101,149 vehicles, reflecting a rise of 12.4% year over year. Further, the company registered unit sales of 25,008 vehicles, indicating an increase of 19.8% year over year, for its Ranger series in the quarter. Ford Transit continued as America’s best-selling van through the first half of 2020. However, it sales volume were 17,944 in the quarter, down 56.5% year over year.
While the company’s retail sales declined 14.3% amid the coronavirus mayhem, Ford’s retail share grew to 13.3%, marking the best retail share in five years. This can be attributed to the firm’s increasing e-commerce activities, its Built for America campaign, as well as strong market gains from pickups, vans and SUVs. Ford’s overall truck and SUV retail share totaled more than 16.5% of the combined segment in the quarter. F-Series also strengthened its leadership position in second-quarter 2020 with an estimated 2.6% increase in retail share. Lincoln's projected market share of the luxury SUV segment inched up 1.5% in the quarter by expansion in the Lincoln’s new SUV products, Aviator and Corsair.
Meanwhile, Ford is collaborating with Disney to launch the Bronco 4x4 SUVs across its Media Networks on Jul 13, marking the first ever, prime-time product reveal through the latter’s broadcast, cable, internet and online platforms, including ABC, ESPN, National Geographic and Hulu. Custom three-minute videos are planned for each network and two- and four-door Bronco models, as well as a smaller Crossover named the Bronco Sport will likely debut. Ford originally intended to showcase its all-new Bronco at the North American International Auto Show in Detroit in June, which was postponed due to the coronavirus outbreak.
Zacks Rank and Stocks to Consider
Ford currently carries a Zacks Rank #3 (Hold). Shares of the company have depreciated 35%, year to date, as against the industry’s rise of 47.4%.
Some better-ranked stocks are Niu Technologies NIU, Tesla TSLA and AngloGold Ashanti Limited AU, each carrying a Zack Rank of 2 (Buy) at present. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Shares of Niu have surged 113.9% year to date, as against the industry’s decline of 13.1%.
Shares of Tesla have soared 188.9%, year to date, compared with industry’s rise of 47.4%.
Shares of AngloGold have rallied 29.7%, year to date, compared with the industry’s gain of 29.2%.
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