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Why Ford Shares Are Rising

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Why Ford Shares Are Rising

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Ford Motor Company (NYSE: F) shares are trading higher after the company reported October auto sales.

Ford reported October total U.S. sales of 175,918 vehicles, representing a year-over-year decrease of 4 percent.

The company also reported October electrified vehicle sales of 14,062, representing a year-over-year increase of 195 percent and F-Series retail sales increased 14.2 percent, while Ranger retail sales were up 60 percent.

“Retail sales improved 16 percent, relative to September, with retail share up 1.6 percentage points. We also had our third consecutive month with over 30 percent of our retail sales coming from customer orders, while also adding 77,000 new orders in October. F-Series, strong SUV sales driven by Bronco, Bronco Sport, Mustang Mach-E and the first full month of Maverick sales really fueled our performance,” said Andrew Frick, vice president, Ford Sales U.S. and Canada.

Ford Motor Company designs, manufactures, markets, and services a range of Ford trucks, cars, sport utility vehicles, electrified vehicles, and Lincoln luxury vehicles worldwide.

Ford’s stock was trading about 3.3% higher at $18.61 per share on Wednesday at the time of publication. The stock set a new 52-week high of $18.61 and has a 52-week low of $7.63.

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