Ford Rides High: US Sales Soar 7.1% In 2023, Says Poised For Growth In 2024
Portfolio Pulse from Shivani Kumaresan
Ford Motor Company (NYSE:F) reported a 7.1% year-over-year increase in 2023 U.S. sales, reaching 1.995 million vehicles, marking its best performance since 2020. Q4 EV sales rose 24% from Q3, with a total of 72,608 EVs sold in the year, an 18% increase. Hybrid sales in Q4 were up 55% year-over-year, and annual hybrid sales increased by 25%. The F-Series trucks expanded their lead with a 15% sales increase, and the new 2024 Mustang had strong sales momentum. Ford anticipates growth in 2024 with new models. However, Ford's stock is trading slightly lower at $11.72.
January 04, 2024 | 3:50 pm
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POSITIVE IMPACT
Ford Motor Company reported strong sales growth in 2023, with significant increases in EV and hybrid vehicle sales, and the F-Series trucks maintaining market leadership. The company is optimistic about growth in 2024 with new models, despite a minor decrease in stock price.
The positive sales report indicating growth in key areas such as EVs and hybrids, combined with the anticipation of new models, suggests a positive outlook for Ford's performance. The slight dip in stock price may be a temporary reaction, and the overall positive news is likely to bolster investor confidence in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100