NEW YORK — Ford Motor Co. shares climbed 4.5 percent after preliminary second-quarter sales data showed strong performance from its internal combustion engine vehicle lineup, with high-margin trucks and SUVs offsetting broader market weakness.
Ford's overall vehicle sales declined 3 percent year-over-year in the second quarter. ICE truck and SUV sales rose 2 percent in the same period, limiting the total sales drop.
The result echoes General Motors' recent success. GM posted strong first-quarter earnings driven by its Chevrolet Silverado and GMC Sierra pickups, which held high average transaction prices despite rising inventory.
Both automakers face pressure to shift toward electric vehicles, but both have leaned into the continued demand and profitability of their traditional segments. Ford's F-Series trucks remain among the top-selling vehicles in the United States.
High interest rates are cooling new car purchases industrywide, and EV demand has moderated. Ford's focus on its established profit centers provides near-term stability while the broader transition plays out.
Profits from ICE vehicles also fund Ford's long-term EV investment. Slowing EV demand led Ford to scale back planned EV production increases earlier this year.
Ford is expected to report full second-quarter earnings in late July. Investors will focus on gross margins in the ICE business and updates on Ford Model e, the company's EV division.
Analysts are watching for any shift in capital allocation between Ford's traditional Blue Oval segment and its EV unit. Strong ICE performance gives the company more flexibility in future EV development cycles.
The Dow Jones Industrial Average rose 1.0 percent to 52,747 and the S&P 500 gained 0.2 percent to 7,429.
Strong F-Series sales, combined with demand for the Bronco and Explorer, position Ford against competitors relying on EV-only strategies—a buffer as the industry works through its transition.
