Ford Motor Company F shares are trading lower on Wednesday.
Ford Motor reported a 4% increase in U.S. retail sales for the third quarter, with overall sales up nearly 1%, in contrast to a 2% decline for the total industry.
Total U.S. vehicle sales for the quarter totaled 504,039 units, up 0.7% from 500,504 in the same period last year.
Ford said it is the second-largest electric vehicle brand in the U.S., with sales rising 12.2% in the third quarter, and it achieved the highest transaction prices among non-luxury electric vehicle brands.
Additionally, Ford said it holds a 77% share in the hybrid truck segment, with total hybrid sales up 38%.
Ford also stated that as America’s best-selling brand in the third quarter, Ford leads in several categories, including trucks (F-Series), hybrid trucks (F-150 Hybrid), vans (Transit), three-row SUVs (Explorer), and sports cars (Mustang).
Furthermore, active subscriptions to the Ford Pro Intelligence software platform have increased by an estimated 30% year-over-year.
According to Benzinga Pro, F stock has fell over 14% in the past year. Investors can gain exposure to the stock via First Trust Nasdaq Transportation ETF FTXR and Invesco Exchange-Traded Fund Trust II Invesco S&P Ultra Dividend Revenue ETF RDIV.
Meanwhile, the automaker is reportedly asking the U.K. government to reintroduce subsidies to enable carmakers reach sales targets as consumers shun electric vehicles.
Chancellor of the Exchequer Rachel Reeves needs to bring back incentives to stimulate customer demand for EVs, said Lisa Brankin, chair of Ford UK and the company's managing director for Britain and Ireland, reported Bloomberg.
Price Action: F shares are trading lower by 2.47% to $10.49 at last check Wednesday.
Photo via Shutterstock
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