Ford Motor Company (NYSE: F) Q2 Sales for SUV and EV on Rise

As the pace of coronavirus pandemic slows in the U.S., Ford Motor Co. sees a rise in auto sales in Q2-21. The rise in sales is rooting in strong demand for EVs and SUVs. Ford’s second-quarter sales increased 9.6% to a total of 475,327 units. In June, the #2 automaker in the U.S. posted a 117% rise in its hybrid and electric vehicles sale. Meanwhile, the SUV sale under brand name-Ford has increased 37% in June. In addition, there has been a 23.3% jump in sales of the Lincoln SUV. 

Surging sales record

The company, on Friday, announced that it had sold 12,975 units of Mustang Mach-E SUV since the beginning of this year. Additionally, it has also planned to launch an electric version of the F-150 pickup next year. The F-150 pickup is Ford’s best-selling product. The truck is also seen as the cash cow of the company. Ford must work diligently to make its launch successful in making the electric version receptive to the audience. 

Demand for personal transport rise amid a pandemic

While the pace at which is spreading has slowed down in the U.S., automakers benefit from increased demand from consumers. There has been a rise in people’s choice of using personal transport during the pandemic. The sales are also being driven with the help of government stimulus and low rates of interest. 

There is still a shortage of supply, though, emerging from a global shortage of semiconductors. There has been a 6-fold increase in sales since the previous year, the company reported. Ford said that it is working with record turn rates and constrained inventories while also closely keeping the dealers in the loop. 

Meanwhile, General Motors has reported its auto sales jumping to 688,236 vehicles in the second quarter. 

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