2023-10-04 10:30:49 ET
The Detroit automaker Ford Motor Company ( NYSE: F ) reported a 7.7% Y/Y increase in U.S. sales, reaching 500,504 units in Q3.
This was driven by increased sales of trucks across its lineup, with F-Series pickup sales increasing by 13.4% to 190,477 units, including 3,503 units of the electric F-150 Lightning.
Total truck sales saw a 15.3% Y/Y surge to 275,554 units, while SUV sales dipped 0.3% Y/Y to 194,723 units.
Electrified vehicle sales witnessed a 14.8% Y/Y increase, totaling 20,962 units.
Ford faces a high risk of cutting its dividend due to warning signs that historically precede dividend reductions. The company's Dividend Safety Score is currently rated as 'F.'
In terms of stock performance, Ford's shares have grown approximately 8% YTD but have declined by about 6% over the past 6 months.
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Ford Motor U.S. sales rose 7.7% Y/Y in Q3 on strong truck demand