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Ford (F) Q2 2022 US gross sales

Electrical Ford F-150 Lightning

Andrew Evers / CNBC

DETROIT – Ford Motor on Tuesday reported a slight enhance in second-quarter new automobile gross sales that missed the expectations of automotive analysts.

Ford stated second-quarter gross sales rose 1.8% in comparison with a yr earlier, together with a 31.5% enhance in June. Analysts anticipated the Detroit automaker’s gross sales to extend between 3.3% and 5.1%.

Ford simply outperformed the {industry} throughout the quarter, as total gross sales have been forecast to be down between 19% and 21% from the second quarter of 2021. Automakers have been scrambling to rebuild seller inventories which were hit arduous by manufacturing cuts amid a world scarcity of semiconductor chips and different key automotive parts.

“Amid industry-wide provide constraints, Ford outperformed the {industry} pushed by sturdy F-Collection, Explorer and new Expedition and Navigator SUV gross sales. Mixed, these automobiles represented simply over 56 p.c of our gross sales in June –up about 8 share factors from Might,” Andrew Frick, Ford vice chairman of gross sales, distribution and vehicles, stated in a launch.

Notably, Ford’s gross sales of F-Collection pickups improved to 57,673 items in June – their highest month-to-month complete of 2022. The gross sales embrace the F-150, together with an all-electric model, and bigger variants of the pickup.

Gross sales of the electrical F-150 Lightning proceed to ramp up. Ford on Tuesday stated it offered a complete of two,296 vehicles, together with 1,837 automobiles in June.

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