Ford Motor Company (NYSE: F) experienced a significant decrease in vehicle sales in May, with overall sales dropping by 13.6%, including a 44% decline in Mustang Mach-E sales and a 45% slump in F-150 Lightning sales. This downturn prompted a 20.3% drop in the company’s stock in June, following a previously strong surge of over 40% after the launch of its battery energy storage business, Ford Energy.
The company also announced a recall of over 740,000 vehicles, primarily 2018-2021 SUVs and trucks, due to a transmission defect, raising concerns about legacy warranty costs. Investors are now looking ahead to July 28 when Ford will release its second-quarter earnings report; these results may offer insight into recovery in truck production and overall financial health, especially as Novelis restarts operations at its aluminum plant in Oswego, New York, which could alleviate supply constraints on F-series trucks.
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