Benzinga - Ford Motor Company (NYSE: F) shares are trading lower. The Dearborn-based automotive company reported its first-quarter vehicle sales Tuesday morning.
What to Know: On Tuesday, Ford Motor Company announced that it was the best-selling brand in Q1, with total vehicle sales of 456,972, up 10.7% compared to last year. Ford notes that this sales growth was primarily driven by:
- 19.6% truck sales growth.
- 86.0% Ford Pro Transit Van growth.
- 47.6% Three-row SUV sales growth, the Ford Explorer was the best-selling midsize SUV in America.
- 41.0% EV sales growth.
Ford also announced plans to add a third crew to its Kansas City Assembly Plant in April in order to increase production for its transit and e-transit vans. Additionally, the company also announced its intention to increase production at manufacturing plants across North America to meet strong customer demands.
"Ford is off to a fast start to the year. Ford's sales growth and investments directly result from strong customer demand across our truck, SUV, and electric vehicle segments," said Andrew Frick, vice president, of sales distribution and trucks.
According to data from Benzinga Pro, Ford Motor Company shares were down 0.88%, trading at $12.57 at the time of publication. The stock has a 52-week high of $17.15 and a 52-week low of $10.62
Image courtesy of Ford Motor Co.
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