Ford Motor Company reported a 10.2% year-over-year decline in July U.S. sales to 169,951 vehicles, a drop of roughly 19,000 units that executives characterized as a good month. The automaker intentionally slashed daily rental fleet sales by 96% and is winding down the Escape and Lincoln Corsair nameplates, with Escape deliveries falling 76.6% to 2,624 units and Corsair plunging 92.8% to just 147 units. Excluding those discontinued models and the fleet pullback, retail sales fell less than 1%, outperforming an estimated 2% industry decline. F-Series truck sales fell 6.5% to 68,755 units amid a supply recovery from two fires at a key Novelis aluminum mill, and Ford raised its full-year adjusted EBIT guidance to $10 billion–$11 billion, sending shares up nearly 7% after hours.
Ford Motor CompanyFord raised full-year adjusted EBIT guidance to $10B-$11B, sending shares up nearly 7% after hours.
