Ford F-150 Lightning at the 2022 New York Auto Show.
Scott Mlyn | CNBC
DETROIT – Ford Motor on Tuesday said its sales in the third quarter increased about 16% compared with a year earlier, despite a larger-than-expected decline in September.
The Detroit automaker, which reports sales monthly, said it sold 142,644 vehicles last month, an 8.9% decline from a year earlier. The drop caused the automaker to miss quarterly sales expectations of Cox Automotive and Edmunds, which forecast gains of 19% and 17.8%, respectively.
Ford’s stock was up about 7% in midday trading Tuesday, outpacing a broader uptick in the market. The automaker’s crosstown rival, General Motors, was also up about 7%.