Ford's Stock Slumps After May Sales Decline

Shares Ford Motor Co. slumped 1.3% in premarket trade Wednesday, after the automaker said total vehicle sales in May fell 5.9% from a year ago, as a 25% plunge in car sales offset a 8.9% jump in truck sales. All Ford-branded cars suffered sales declines, led by the 37.4% tumble in Taurus sales, and the 34.8% drop in Fiesta sales. Within Ford-branded trucks, F-Series sales increased 9.0% and Transit sales climbed 16.4%, while E-Series sales fell 8.7%. Lincoln-brand vehicle sales increased 6.9%, as 16.0% growth in sales of utilities vehicles offset a 5.3% decline in car sales. The stock has lost 4.3% year to date through Tuesday, while the S&P 500 has gained 2.6%.