Second quarter 2021

Ford said on Thursday that its expectations for the second quarter of 2021 have increased compared with April. Ford sees growing demand for its electric vehicles and also points to lower costs and favourable market factors. However, investors should "read between the lines" and understand what Ford expects in the short term.

Ford (F), the No. 2 carmaker in the US after General Motors (GM), announced to its investors on Thursday that it sees improvement in the car business since its last forecast on 28 April.

Ford Motor's next Q2 2021 report is expected on 27 July and here's what the company's management is forecasting and what investors should expect.

Ford reported the following:

• costs were lower than expected;
• market factors have become more favourable;
• Ford is seeing strong demand for its electric vehicles, a key "positive" signal that the automaker is moving towards its goal of reaching a 40% share of electric vehicle sales by 2030.

Ford Credit division revenues have been boosted by higher prices for new and used cars at car auctions.

Ford on Thursday gave an update on "bookings" (optional pre-orders via the internet) for several of its latest new models. The recently launched Bronco electric SUV has received 190,000 reservations, 125,000 of which have already been converted into binding orders.

The F-150 Lightning electric pickup unveiled in May received 100,000 reservations, with deliveries to US dealerships beginning in mid-2022.

The small electric Maverick pickup, unveiled last week, received 36,000 reservations.

The all-electric E-Transit commercial van received 20,000 reservations.