Ford gets a sales bump on employee pricing despite tariffs
Ford Motor Company (F) reported a 16% increase in year-over-year sales in May, led by an upticks in hybrid and traditional vehicle sales.
Ford’s deliveries were buoyed by a surge in Bronco and Bronco Sport purchases, which saw 51.1% and 45.7% jumps respectively. But the company’s electric vehicle sales nosedived, with a 25% overall decrease, brought down by a precipitous 41.7% drop in sales for its F-150 Lightning EV.
Lincoln posted positive figures, seeing a 133% increase in sales of its Navigator SUV.
Ford, which did not immediately return a request for comment, told CNBC its employee pricing program deal, which allows anyone in the U.S. to buy select vehicles at the price it gives employees, helped “drive strong sale results.” The deal went into effect as a response to President Donald Trump’s 25% tariff on auto imports. While Ford did offer sales, the company has also increased prices on its cars made in Mexico, citing tariffs as the reason.
Despite Ford’s positive news, things aren’t looking as bright for the rest of the auto industry, as it remains to be seen how tariffs will affect the industry long-term.
Cox Automotive said last week it expects May sales to cool overall following a surge in purchases to beat tariffs. That increase in purchases also led car inventory to drop 10% to 2.8 million between April and May, according to Automotive News, making sales more difficult.
That’s made more complicated by the GOP’s assault on EVs, which comes as many carmakers are releasing new models of electric vehicles. House Republicans have proposed ending Inflation Reduction Act tax credits for buyers, and the Trump administration is rolling back auto emissions standards.
Content Original Link:
" target="_blank">
