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Ford's (F) Q1 U.S. Vehicle Sales Decline Y/Y on Chip Crisis
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Ford Motors (F - Free Report) has announced first-quarter sales of 432,132 vehicles, including 159,328 units in March. March sales jumped slightly from February as in-transit inventory improved 74%, positioning the auto biggie for sales growth in the spring season.
However, like the rest of the auto industry, the first quarter of 2022 was rough for Ford. Sales of the company’s new vehicles in the United States fell 17% during the quarter, led by the ongoing global shortage of semiconductor chips. Sales of Ford’s trucks came down 23% during the first quarter. Car sales declined 49%, while SUV sales were down 5.1%.
In March, the overall truck sales came down 34.4%. Sales of cars fell 67% and that of SUVs declined 9.4%.
Ford’s most profitable F-Series pickups, including the F-150 and its larger versions, recorded a year-over-year sales plunge of 31% during the first quarter and 47% in March.
Some of Ford’s newest vehicles reported a rise in sales in March while others reported a fall. Sales of the newest Bronco Sports model increased 28.7% year over year, while that of the Edge was up 36.6%. However, EcoSport, Escape, Mustang Mach-E, Explorer and Expedition reported a year-over-year fall in sales of 37.2%, 15.7%, 10.4%, 35.9% and 80.7%, respectively.
Lincoln SUV sales lost 19.7% year over year in March.
The company achieved record electrified vehicle sales year to date, expanding 37.9%.
Shares of F have risen 24.2% compared with the industry’s 13.1% growth.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
F currently has a Zacks Rank #4 (Sell).
Better-ranked players in the auto space include Harley-Davidson (HOG - Free Report) , LCI Industries (LCII - Free Report) and Tesla (TSLA - Free Report) , each sporting a Zacks Rank #1 (Strong Buy), currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Harley-Davidson has an expected earnings growth rate of 2.2% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised around 27% upward in the past 60 days.
Harley-Davison’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. HOG pulled off a trailing four-quarter earnings surprise of 77.6%, on average. The stock has lost 9.2% over the past year.
LCI Industries has an expected earnings growth rate of 26.7% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 15% upward in the past 60 days.
LCI Industries’ earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the same in one. LCII pulled off a trailing four-quarter earnings surprise of 12.9%, on average. The stock has declined 22.8% over the past year.
Tesla has an expected earnings growth rate of 42.3% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 4.4% upward in the past 60 days.
Tesla’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. TSLA pulled off a trailing four-quarter earnings surprise of 33.3%, on average. The stock has risen 62.7% over the past year.
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Ford's (F) Q1 U.S. Vehicle Sales Decline Y/Y on Chip Crisis
Ford Motors (F - Free Report) has announced first-quarter sales of 432,132 vehicles, including 159,328 units in March. March sales jumped slightly from February as in-transit inventory improved 74%, positioning the auto biggie for sales growth in the spring season.
However, like the rest of the auto industry, the first quarter of 2022 was rough for Ford. Sales of the company’s new vehicles in the United States fell 17% during the quarter, led by the ongoing global shortage of semiconductor chips. Sales of Ford’s trucks came down 23% during the first quarter. Car sales declined 49%, while SUV sales were down 5.1%.
In March, the overall truck sales came down 34.4%. Sales of cars fell 67% and that of SUVs declined 9.4%.
Ford’s most profitable F-Series pickups, including the F-150 and its larger versions, recorded a year-over-year sales plunge of 31% during the first quarter and 47% in March.
Some of Ford’s newest vehicles reported a rise in sales in March while others reported a fall. Sales of the newest Bronco Sports model increased 28.7% year over year, while that of the Edge was up 36.6%. However, EcoSport, Escape, Mustang Mach-E, Explorer and Expedition reported a year-over-year fall in sales of 37.2%, 15.7%, 10.4%, 35.9% and 80.7%, respectively.
Lincoln SUV sales lost 19.7% year over year in March.
The company achieved record electrified vehicle sales year to date, expanding 37.9%.
Shares of F have risen 24.2% compared with the industry’s 13.1% growth.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
F currently has a Zacks Rank #4 (Sell).
Better-ranked players in the auto space include Harley-Davidson (HOG - Free Report) , LCI Industries (LCII - Free Report) and Tesla (TSLA - Free Report) , each sporting a Zacks Rank #1 (Strong Buy), currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Harley-Davidson has an expected earnings growth rate of 2.2% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised around 27% upward in the past 60 days.
Harley-Davison’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. HOG pulled off a trailing four-quarter earnings surprise of 77.6%, on average. The stock has lost 9.2% over the past year.
LCI Industries has an expected earnings growth rate of 26.7% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 15% upward in the past 60 days.
LCI Industries’ earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the same in one. LCII pulled off a trailing four-quarter earnings surprise of 12.9%, on average. The stock has declined 22.8% over the past year.
Tesla has an expected earnings growth rate of 42.3% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 4.4% upward in the past 60 days.
Tesla’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. TSLA pulled off a trailing four-quarter earnings surprise of 33.3%, on average. The stock has risen 62.7% over the past year.