Ford sales surge ahead of tariffs
CNN
Ford reported a strong start to the year as car buyers flooded dealerships to buy cars ahead of the threat of tariffs that could raise prices.
Buyers flooded Ford dealerships in March to snap up cars ahead of the threat of higher prices due to tariffs, the company reported Tuesday. Overall sales in March rose 10%, Ford said, a bounce from the 1.3% decline in the first quarter overall. The biggest jump was in retail sales, or sales directly to consumers. That rose 5% in the quarter driven by a 19% surge in March. The Trump administration will impose a 25% tariff Thursday morning on all cars imported from foreign countries, including Canada and Mexico. The company did not mention tariffs in the sales release. And while most of the vehicles Ford makes are at US plants that won’t immediately be subject to tariffs, some of its hot sellers in the quarter are vehicles Ford makes outside the United States. That includes the Maverick small pickup truck, which is built in Mexico, and had a record sales month, with 19,000 trucks sold in March. The company attributed those strong Maverick sales to “improved availability.” For the quarter overall, however, that model’s sales were down 3%. The Ford Mustang Mach-E, its electric SUV which is also made in Mexico, saw its sales in the quarter climb 21% compared to a year ago. Most other automakers are due to report March or first quarter results later Tuesday.
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