Ford's stock is surging despite February sales decline
Shares of Ford Motor Co. F, +4.61% shot up 6.7% in morning trading Wednesday, after the auto maker reported February U.S. vehicle sales that fell sharply from a year ago, with all vehicle types showing declines, but took in a record number of new retail vehicle orders. Total sales dropped 20.9% to 129,273 vehicles, including a 25.5% tumble in truck sales to 66,158, a 11.8% fall in SUV sales to 58,396 and a 3.1% slip in electrified vehicle sales to 8,984.
New vehicles orders increased four-fold to over 72,000, and said the filling of those orders are continuing to run at record levels. Among Ford's best-selling models, February F-Series sales fell 29.8% from a year ago to 45,252 vehicles, Escape sales slipped 1.2% to 11,706, Bronco Sport sales jumped 86.1% to 10,285 and Explorer sales plunged 53.9% to 9,566.
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