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.

Fed to “Wait for Greater Clarity” Before Making Policy Adjustment Says Chair Jerome Powell

The Federal Reserve will wait to see the impact of recent sweeping tariffs on the U.S. economy before considering making policy adjustments, according to...

Oil Prices Will Decline Through 2026 According to Goldman Sachs

Oil prices will drop further this year, with the trend spilling over to 2026, according to Goldman Sachs. The investment bank forecasts that increased...

Morgan Stanley Remains Bullish on Nvidia Stock as its “Top Pick”

Shares of semiconductor giant Nvidia have had a wild ride in recent weeks. However, analysts from Morgan Stanley still believe that the stock will...