HomeIndustriesFord's Quarterly U.S. Sales Surge By Over 10%

Ford’s Quarterly U.S. Sales Surge By Over 10%

Ford Motors Co experienced a strong financial performance during the first quarter of 2023, posting a 10.1% rise in sales for the first three months of the year. Stocks in the company rose by 1% during premarket trading.

The automaker’s increase in sales is largely attributed to a combination of rising demand and the easing of supply chain restrictions. Ford’s rising sales follow the global trend of rising U.S. sales as shipments to dealers across the industry continue to improve. The exception was Toyota Motor Corp, which reported that it is continuing to experience parts shortages.

Ford reported total first-quarter sales of 475,906 vehicles; up from its sales of 432,132 vehicles during the same period a year earlier.

Automakers across the board faced multiple supply chain disruptions during the height of the pandemic, leading to lower supply levels and multiple delivery setbacks. Such disruptions dwindled over the past year, enabling the likes of Ford to boost their deliveries.

Euro Steadies as ECB President Promises Further Rate Hikes

The euro remained steady on Thursday after European Central Bank (ECB) President Christine Lagarde announced that further interest rate hikes would be implemented as...

Stocks Rise as House Passes Debt Ceiling Deal

U.S. stocks advanced on Thursday morning after the House of Representatives passed a bill proposing to raise the government's debt ceiling on Wednesday evening....

Macy’s Shares Fall After Annual Forecast Cut

Macy's Inc cut its full-year earnings and profit forecast after experiencing a slowdown in demand for its high-end products. The retailer's shares declined by...