DETROIT, July 7, 2026, 15:09 (EDT)
- Ford Motor Company NYSE:F slipped 1.7% to $13.59. General Motors Company NYSE:GM and Tesla Inc NASDAQ:TSLA dropped more.
- Ford said its U.S. sales dropped 10.3% in the second quarter to 549,200 vehicles. The company said if not for model changes and flat rental fleet numbers, sales would have edged up about 0.5%.
- Ford is recalling 110,626 Mustang and Mustang Mach-E vehicles, raising quality questions again ahead of its July 28 earnings report.
Ford Motor Company NYSE:F shares fell Tuesday, after the automaker reported a 10.3% drop in U.S. sales for the second quarter. But Ford pointed to a different number: stripping out planned phase-outs of the Escape and Lincoln Corsair, and assuming no change in daily-rental sales, Q2 sales would have climbed 0.5%, the company said.
Ford was down 24 cents to $13.59, off about 1.7%, just before 3 p.m. in New York. Shares underperformed the broad index but held up better than General Motors NYSE:GM and Tesla NASDAQ:TSLA, which saw steeper drops.
| Security | Latest price | Day move | Intraday range | Market value |
|---|---|---|---|---|
| Ford Motor Company NYSE:F | $13.59 | -1.7% | $13.57 to $13.88 | $55.3 bln |
| General Motors Company NYSE:GM | $76.28 | -2.0% | $75.65 to $78.24 | $70.6 bln |
| Tesla Inc NASDAQ:TSLA | $403.82 | -3.8% | $403.78 to $419.45 | $1.43 trln |
| SPDR S&P 500 ETF Trust NYSEARCA:SPY | $747.77 | -0.5% | $745.33 to $750.93 | $662.1 bln |
Ford’s stock tells the story more clearly than the sales headlines. Ford’s U.S. sales volume fell more than GM’s 4.2% drop last quarter, but Ford shares moved less on Tuesday. That puts the focus on sales mix over just volume.
Ford reported second-quarter sales of 549,200 vehicles, a drop from 612,095 last year. That’s 62,895 fewer vehicles. The company pointed to model phase-outs and a 69% cut in daily rental sales. Reuters said F-150 supply was also lower.
| Q2 U.S. sales item | Ford | GM |
|---|---|---|
| Vehicles sold | 549,200 | 714,896 |
| Year-on-year change | -10.3% | -4.2% |
| Company-cited pressure | Model wind-downs, fewer rentals, F-Series shipment timing | Higher prices squeezed buyers |
| Offset watched by investors | June retail share up 0.2 points to 12.3%, adjusted sales rose 0.5% | Higher base volume, smaller reported drop |
Ford is still dealing with the mix case, but said its first-half F-Series sales hit 357,801, outpacing Chevrolet Silverado by over 80,000. Bronco posted a quarterly record at 45,739 units, Maverick Hybrid rose 19.3% to 29,457, and Ford Pro Intelligence paid software subs topped 900,000, up about 20%. “Gaining retail market share last month … shows the strength of the Ford lineup,” Ford Blue and Model e president Andrew Frick said. Q4cdn
This is why the next profit report matters. Ford stock isn’t moving on total unit declines. Investors care about whether trucks, big SUVs, commercial lines and software can make up for weaker programs and rental sales, and avoid a margin slip.
Quality problems hit that point on Tuesday. Ford is recalling 110,626 Mustang vehicles in the U.S. The recall covers 67,842 Mustang and Mustang GTD cars for a wiper defect and 42,784 Mustang Mach-E vehicles for an issue with the rear differential pinion shaft that could break, according to the U.S. National Highway Traffic Safety Administration. Dealers will fix or swap out parts at no cost.
Micron Technology NASDAQ:MU and Ford struck a long-term deal Monday to lock in supply for memory and storage platforms in next-gen vehicles. DRAM prices have climbed about 70% since December, Reuters reported, citing S&P Global Mobility. Micron CEO Sanjay Mehrotra said “advanced memory and storage continues to grow” in importance as vehicles process more data. Reuters
Ford said F-Series sales in the first half were slowed by shifted commercial production after last year’s aluminum shortages, but expects supply to return in the back half. The Micron deal won’t solve the aluminum issue, though Ford said it cuts another parts risk as software, driver-assist tech and infotainment now make up a bigger share of car costs.
Ford and Ford Motor Credit report Q2 results at 4:05 p.m. ET on July 28. CEO Jim Farley and CFO Sherry House will speak on the earnings call at 5 p.m. ET. Investors will watch the margin bridge for Ford Blue, Ford Pro, Model e losses, recalls, and F-Series supply in the second half to judge if the lighter stock move on Tuesday made sense.
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