Why Ford Stock Slumped 20% in June, And Why July 28 Could Decide What's Next

Ford shares tumbled 20% in June as electric vehicle sales cratered and a major recall hit production. Mustang Mach-E deliveries plunged 44% while F-150 Lightning sales dropped 45%, underscoring continued struggles in Ford's EV pivot despite early buzz around its new Ford Energy battery storage business.

The automaker also recalled 740,000 vehicles during the month, compounding operational headwinds. One potential catalyst for recovery: Novelis restarted its aluminum production facility, which could restore supply constraints that have hampered Ford's truck manufacturing volumes.

July 28 marks the company's second-quarter earnings release, a make-or-break moment for the stock after a brutal month. Investors will scrutinize whether EV demand stabilizes, how the recall impacts profitability, and whether improved aluminum supply translates to higher-margin truck production in the back half of 2024.