Ford’s US vehicle sales surge 10.5% YoY in February

Ford Motor Co (NYSE: F) on Monday reported a 10.5% increase in total US vehicle sales for the month of February to 174,192 units.

Results were driven by robust demand for family crossover SUVs, pickup trucks and hybrid vehicles, the company said.

Sales of hybrid vehicles, including electrified versions of Ford’s popular Maverick compact truck and Escape crossover, surged 32% year-on-year to 12,045 units.

Meanwhile, sales of Ford SUVs rose 22% year-on-year to 76,403 units.

“Hybrid vehicles continue to be a growth segment for Ford and sales have grown at a faster rate than the overall U.S. industry for much of the last year,” the US auto maker said in a statement.

Stock Performance

The shares of Ford Motor Company (F) closed 2.33% ($0.29) higher at $12.74 in New York on Monday, as they extended the gains from the previous four market sessions.

The auto maker’s total market cap now stands at $49.721 billion.

The shares of Ford Motor Co (F) went up 10.12% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).

The company’s shares have risen 4.51% so far this year.

Analyst stock price forecast and recommendation

According to TipRanks, at least 6 out of 15 surveyed investment analysts had rated Ford Motor Company’s stock as “Buy”, while 5 – as “Hold”. The median price target on the stock stands at $13.90, which translates into a 9.11% upside compared to the closing price on Monday.

The high point of the analyst forecast range stands at $21.00.