On Tuesday, Ford Motor Company (NYSE: F) jubilantly announced that its U.S. vehicle deliveries surged more than 30% year over year last month.
There's just one problem: June 2021 was a horrible month for Ford. At that time, its sales plummeted by 27% as the global chip shortage was wreaking havoc on its production and sales. Moreover, on a year-to-date basis in 2022, deliveries are down 8% even though Ford has faced easy year-over-year comparisons.
Ford appears to be losing share in key market segments. Unfortunately, the automaker is spinning the numbers to make them appear better than they are rather than explaining to investors what is going on. That's a concerning development for Ford shareholders like me.
Source Fool.com