Ford shares tumble after November car sales drop, as truck and SUV declines offset double EV sales
Shares of Ford Motor Co.
F,
fell 1.6 percent in Friday morning trading, after the automaker reported November sales fell 7.8 percent to 146,364 vehicles. Truck sales fell 1.2% to 81,210 and sport utility vehicle (SUV) sales fell 15.0% to 61,889, while electric vehicle (EV) sales jumped 102.6 percent to 6,255 . Ford said its electric vehicle sales more than doubled its total electric vehicle sales in November, making it the second-best maker and seller of electric vehicles, behind leader Tesla Inc.
TSLA,
The sales report came a day after Ford said it had Invest an additional 125 million pounds $152.7 million) to move the Halewood, UK plant into electric vehicle parts. Shares of Ford have lost 33.3% year-to-date, while shares of rival General Motors Co.
GM,
fell 32.1% and Tesla fell 44.5%. S&P500
SPX,
fell 15.2% this year.
