The Clap
Ford Motors (NYSE: F) reported a 1.8% YoY increase in vehicle sales, short of analyst expectations of an increase between 3.3%-5.1%.
A lot Better than the Industry
The automotive industry was hit hard by supply shortages. The semiconductor chip shortage was especially harmful to the industry.
Ford rival General Motors (NYSE: GM) saw a 15% YoY drop in sales in Q2-2022. However, it’s worth noting that Ford’s Q2-2021 was a bad one due to a fire at one of its suppliers that halted the automaker’s production.
Strong EV Sales Performance
Ford’s EV sales took a big jump in H1-2022, as both it & General Motors ramp up their EV efforts. EV sales rose 77% YoY in H1-2022.
