Ford reported a 10.3% sales drop in Q2. The culprit? F-Series supplier issues and nobody wanting their EVs. The F-Series itself fell 11%. The thing keeping Ford alive is the thing that's broken. Beautiful.
EV sales cratered 40.7% year-over-year. Turns out people looked at the price tags and decided they'd rather keep their gas-guzzling F-150s that actually work when it's cold outside. Ford spent billions pivoting to electric and the market responded by buying 40% fewer of them. That's not a dip. That's a rejection letter.
The supplier issue means Ford couldn't build enough trucks to meet demand they definitely had, which sounds convenient when you're trying to explain why sales dropped. Can't disappoint customers if you never had the inventory. That's called strategy in Dearborn.
Retail traders saw this news and immediately started calculating whether this was the dip to buy. They opened their Robinhood apps. They checked the chart. They remembered they learned about supply chains in a TikTok video once. They bought calls expiring Friday. Ford's stock will do whatever it wants because supplier issues resolve themselves and EV demand is a rounding error compared to the F-150 keeping this company solvent.
The F-Series has been America's best-selling truck for 47 consecutive years. It survived recessions, oil shocks, and that period when everyone pretended they wanted a Prius. Now it's being kneecapped by its own supplier while Ford simultaneously learns that slapping a battery in a truck doesn't make people want to pay $80,000 for it.
The stock dropped 3% on the news because markets are efficient. Some analyst will downgrade Ford tomorrow. Another will upgrade it next week. None of it matters because the chart doesn't care about supplier issues and F-150 buyers don't read earnings reports.
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