Is Strong Demand for Pickups the Secret to Ford's Q2 Delivery Growth?

Core Insights - Ford Motor Company significantly outperformed the broader U.S. auto industry in Q2 2025, delivering 612,095 vehicles, a 14.2% year-over-year increase, compared to the industry's estimated growth of 1.4% [1][9] - The company's market share increased by 1.8 percentage points from Q1 to an estimated 14.3% [1][9] Sales Performance - Strong demand for pickup trucks was a key driver of Ford's performance, with combined sales of the F-Series, Ranger, and Maverick rising 15.1% year-over-year to 288,564 units [2][9] - Electrified vehicle sales, including hybrids and plug-in hybrids, grew 6.6% year-over-year to 82,886 units in Q2 [2][9] - In the first half of 2025, Ford sold a record 156,509 electrified vehicles, up 14.7% year-over-year, surpassing the combined EV and hybrid sales of General Motors and Stellantis [3] Competitive Landscape - General Motors reported U.S. deliveries of 746,588 units in Q2 2025, marking a 7% increase year-over-year, with EV sales rising 111% to 46,280 units [5] - Stellantis sold 309,976 vehicles in the U.S. in Q2 2025, down 10% year-over-year, continuing a downward trend in sales [6] Future Outlook - Ford plans to begin deliveries of the new Explorer Tremor and F-150 Lobo in Q3 2025, enhancing its off-road and performance vehicle lineup [4] Valuation Metrics - Ford's shares have gained 18.9% year-to-date, outperforming the Zacks Automotive-Domestic industry, which has declined by 23.4% [7] - The company appears undervalued with a forward price/sales ratio of 0.29, significantly lower than the industry's 2.48 [11]