Ford Motor Co. (NYSE: F) continues to have the best-selling vehicle in America. The Ford F-Series usually sells 700,000 units a year. The 2022 number will be lower because of parts shortages. However, the pickup continues to be Ford’s workhorse, financially.
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Sales of the F-Series rose 21.1% to 63,341 in July. Ford’s only worry should be that the pickup’s sales were 38% of the company’s total. If for any reason sales were hurt, Ford’s revenue would be as well.
Ford’s turn toward sport utility vehicles, crossovers and pickups also showed up in the numbers. Car sales for the month were only 3,373. In America, Ford is no longer a “car” company at all.
Ford’s strategy with F-Series sales continues to be part of the playbook for much of the industry. It comes in dozens of configurations, which are priced from under $33,000 to over $70,000.
Ford’s most important model may be the new F-150 Lightning. It is Ford’s most important foray into the electric vehicle (EV) market. It was only introduced recently, and July sales were an extremely small 2,171. The rollout will be slowed by a lack of essential parts. Once this is resolved, Ford needs to sell tens of thousands of the new Lightnings per year for the company to be an EV success. No other company in America has millions of EVs already in circulation. Ford has this as a built-in target market. As Executive Chair Bill Ford has said, the launch can make or break the company in the near future.
The future aside, F-Series sales in July mean Ford continues to anchor its present with a success that is nearly unbreakable.
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