Ford Motor Company (NYSE:F) shares are 2% in the red after the vehicle manufacturer reported its U.S. sales for the month of March. Specifically, the company’s domestic sales inched lower by 7.2% year-over-year to 236,250 vehicles. Of the aggregate amount, retail sales fell 2% to 157,740 units, while fleet sales fell 17% year-over-year to 78,510 vehicles sold. As a silver lining, the average pricing transaction did rise $1,800. Separately, Ford is in the spotlight due to the manufacturer recalling around 52,000 Ford-250s (model year 2017) for ‘unintended vehicle movement while in park’. So far, Ford believes no accidents or injuries have been associated with that issue.
What Does The Smart Money Sentiment Say?
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According to our data, the smart money was more optimistic on Ford in the fourth quarter than in the quarter previous. Of the 742 elite funds that we track, 40 owned shares of Ford Motor Company (NYSE:F) at the end of December, up 8 funds from the previous quarter.
The Bottom Line
Ford Motor Company (NYSE:F) is in the headlines due to the company releasing its latest monthly domestic sales data, which may not have met the market’s expectations. Shares of Ford Motor Company (NYSE:F) have been somewhat left behind from the broader market rally due to fears that the shift to EVs/automated cars could be a difficult one. Nevertheless, many bulls believe Ford is taking the right steps to adjust for the shifts ahead. For more reading, check out the article, ‘11 Most Expensive Cars to Insure‘.