Ford inventory slumps soon after November cars revenue drop, as truck and SUV declines offset a doubling in EV income

Shares of Ford Motor Co.
F,
-.96%
shed 1.6% in morning trading Friday, immediately after the automaker claimed a 7.8% decline in November income to 146,364 vehicles. Truck gross sales fell 1.2% to 81,210 and activity-utility car (SUV) product sales sank 15.% to 61,889, when electric car (EV) gross sales soared 102.6% to 6,255. Ford said its EV product sales grew at 2 times the charge of overall EV sales in November, and helps make Ford the next-most effective EV seller and maker, guiding leader Tesla Inc.
TSLA,
-.44%.
The gross sales report will come a working day following Ford stated it experienced invested an additional 125 million pound sterling ($152.7 million) to changeover its Halewood, U.K. plant to EV parts. Ford’s stock has shed 33.3% yr to date, although shares of rivals Typical Motors Co.
GM,
-1.24%
have dropped 32.1% and Tesla have slumped 44.5%. The S&P 500
SPX,
-.73%
has declined 15.2% this year.