Ford is falling after a lackluster sales report
Thomson Reuters
Ford's stock dropped to $10.90 in early trading after the Detroit-based auto company reported a decline in year-over-year sales of 7.4%, several points worse than what analysts expected.
Ford's fleet sales - the sales of vehicles to rental car firms, corporations, government agencies, and utility companies - were down 26.4% in the second quarter of 2017.
Retail sales fell by only 1%, with Ford's share of the retail market actually increasing over the last three months inluding July.
Ford was not the only auto company to fall short of analyst expectations. The other two major American auto companies, GM and Fiat Chrysler, reported -15% and -10.5% year-over-year sales, respectively, both well short of analyst expectations.
Markets Insider
Get the latest Ford stock price here.
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- India legend Yuvraj Singh named ICC Men's T20 World Cup 2024 ambassador
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market