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Shares of Ford Motor Co (NYSE: F) closed 4.4% higher on Monday, making July its best month since the Great Recession in 2009.
Ford’s shares rose by 31.9% in July, the highest percentage gain since April 2009 when the automaker’s shares climbed 127.4% as it was emerging from the Great Recession.
The rally was fuelled by company’s stellar quarterly performance in July beating Wall Street expectations. Ford’s adjusted operating income more than tripled from a year ago to $3.7 billion in the second quarter.
The automaker also said in July that it has secured 100% of the battery supplies needed to deliver electric vehicles in 2023.
Picture Credits: Ford
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