Key points:
- Ford posts record January EV sales, looking well poised ahead of tomorrows Q4 earnings
- In January, Ford grew 4x faster than the overall EV industry
- Walmart jumps in with an order of 1,100 E-transits
Ford (NYSE: F) isn’t exactly an underdog; the company pounced on the EV market as soon as they had the opportunity, and they are one of the few manufacturers to boast seriously impressive delivery numbers. In a sector that often glazes over fundamentals for long-term speculation, Ford is a refreshing reminder of the opposite. With numerous EV models flying out of production; investors might want to pay close attention to Ford before the companies earnings tomorrow.
Ford has posted consistently impressive delivery numbers, but January proved to be a record month for the company’s EV sales – growing almost 4 times faster than the overall EV industry – which is definitely a statistic worth noting. On a total of 13,169 vehicles sold, Ford EVs were up 167.2%.
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If the F-150 Lightning wasn’t creating enough demand, the E-Transit is set to make an equally big impact, with commercial utility being the key driver. Walmart has already agreed to take delivery of 1,100 E-transits, bringing the total number to 10,000.
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Ford pickups have been the shining star in the company’s EV makeover, totaling more than 62,000 sales and outselling GM’s entire pickup truck line in January.
Ford market share is evidently increasing, will GM be able to catch up with its new factory plans? Or will the company be left chasing the tail of Ford? Either way, Ford stock is looking like a promising bet ahead of tomorrow’s earnings, but investors should be cautious; the slightest miss could send the stock plummeting.