What Ford's November Sales Reveal About Its Turnaround Efforts
After spending years in neutral gear, eclipsed by exciting new names like Tesla (NASDAQ: TSLA), automotive giant Ford Motor Company (NYSE: F) appears to be executing strongly on its energetic new modernization strategy. The automaker just released its November 2021 sales report, which shows possibly unsurprising year-over-year (YOY) growth from 2020's troubled market. However, it also achieved some key milestones, especially when it comes to electric vehicles (EVs) -- all signs that its Ford+ plan continues gaining momentum and spotlighting a potentially bullish future for the Blue Oval.
While supply chains remain crimped and a variety of swirling economic and logistic factors are hampering the automotive sector, Ford reports its total vehicle sales rose 5.9% in November. Strong commercial vehicle sales, up 42% YOY, helped redress the balance in some areas with weak retail sales. SUVs, up 25.6% YOY, and EVs, which jumped 221.2%, produced the strongest retail sales. The company also reported November orders for 74,000 vehicles for future delivery, compared to just 10,000 in November 2020.
Image source: Ford Motor Company.
Source Fool.com
