TokyoTokyo Mon - Fri 10:00-18:00 +81 (368) 662-975
info@mountequitygroup.com

Ford jumps to a 6-year high after it reports a 184% surge in electric vehicle sales in May

Mount Equity Group Tokyo, Japan > News > Markets > Ford jumps to a 6-year high after it reports a 184% surge in electric vehicle sales in May

Shares of Ford hit a six-year high on Thursday, jumping as much as 7% following its May sales report.The company said it saw a 184% surge in electric vehicle sales, in part driven by the Mustang Mach-E.Ford is up as much as 80% year-to-date as investors reward its jump into electric vehicles.

  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

    Ford surged as much as 7% to a six-year high on Thursday after it reported May sales that showed a massive jump in electric vehicle sales.

    The company’s EV strategy appears to be paying off following the release of its Mustang Mach-E and unveiling of the F-150 Lightning pickup truck. May sales for the 117 year-old automaker jumped 4% year-over-year to 161,725 vehicles.

    Ford’s EV sales saw a 184% spike to 10,364 units in May, and signs are building that the company could be slowly taking market share away from Tesla. The electric version of Ford’s Mustang topped car sales for the small but influential EV market in Norway in May. Ford’s EV sales in Norway edged out EVs from both Toyota and Tesla.