Business

Ford quarterly US auto sales rise on strong SUV, EV demand

Ford Motor Corp on Friday reported a 117per cent rise in U.S. electrified vehicle sales for June, as the U.S. automaker benefited from strong demand during the COVID-19 pandemic.

FILE PHOTO: Ford logo is seen at the North American International Auto Show in Detroit, Michigan
FILE PHOTO: The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid
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REUTERS: Ford Motor Co's U.S. auto sales in the second quarter rose 9.6per cent to 475,327 units, benefiting from strong SUV and EV demand in June, the No.2 U.S. automaker said on Friday.

The company posted a 117per cent rise in U.S. electric and hybrid vehicle sales for June. Ford-branded SUV sales rose 37per cent in June while its Lincoln SUV sales increased 23.3per cent.

Ford sold 12,975 units of its Mustang Mach-E SUV in the first six months of this year. The company is poised to launch the electric version of its best-selling F-150 pickup in 2022.

Automakers in the United States are benefiting from strong demand as consumers opt for personal transport during the COVID-19 pandemic. Low interest rates and government stimulus are also helping drive sales.

However, supply has been constrained due to a global semiconductor shortage.

"With constrained inventories and record turn rates in the second quarter, we have been working closely with our dealers gathering retail orders, which are up 16-fold over last year," Ford said in a statement.

General Motors Co reported on Thursday its U.S. auto sales jumped to 688,236 vehicles in the quarter.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Maju Samuel and Krishna Chandra Eluri)

Source: Reuters