Ford Pro sales rise, GM fleet sales fall in Q2

Ford and General Motors saw mixed commercial vehicle demand during the second quarter, as tariffs led to fleet customers moving orders ahead amid difficult market conditions. Ford Pro , the commercial fleet division of Ford , saw Q2 revenue of $18.8 billion, up 10.6% year over year, according to Ford’s July 30 earnings presentation. The division’s Q2 wholesale sales rose to 429,000 units, up 14.4% YoY, according to the presentation. Ford Pro’s growth comes as the division has cut repair time 20% , supported by increased capital investment, including $2 billion from dealers since 2022, and an 18% expansion of the global mobile service network to over 4,700 units, Andrew Frick , interim president of Ford Pro as well as president of Ford Blue and Ford Model e , said during the July 30 earnings call. “This performance is driven by a diverse vehicle lineup and continued investment in the Pro portfolio,” he said. “Delivering on uptime, the most important KPI for our customers is a shared mission that we have with our dealers.” [caption id="attachment_9828" align="alignnone" width="150"]<img class="entered lazyloaded wp-image-9828 size-thumbnail" src="https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-150x150.jpg" sizes="(max-width: 150px) 100vw, 150px" srcset="https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-150x150.jpg 150w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-300x300.jpg 300w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-1024x1024.jpg 1024w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-768x769.jpg 768w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-500x500.jpg 500w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-600x601.jpg 600w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-100x100.jpg 100w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-75x75.jpg 75w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-350x350.jpg 350w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-750x751.jpg 750w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler.jpg 1080w" alt="(Alicia Boler, Ford Pro President, Ford Motor Co.)" width="150" height="150" data-lazy-srcset="https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-150x150.jpg 150w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-300x300.jpg 300w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-1024x1024.jpg 1024w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-768x769.jpg 768w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-500x500.jpg 500w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-600x601.jpg 600w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-100x100.jpg 100w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-75x75.jpg 75w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-350x350.jpg 350w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-750x751.jpg 750w, https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler.jpg 1080w" data-lazy-sizes="(max-width: 150px) 100vw, 150px" data-lazy-src="https://equipmentfinancenews.com/wp-content/uploads/2025/08/Alicia-Boler-150x150.jpg" data-pin-no-hover="true" data-ll-status="loaded" /> Alicia Boler, Ford Pro President, Ford Motor Co.[/caption] Ford Motor Co. has appointed Alicia Boler Davis president of Ford Pro, effective Oct. 1. Frick will continue to lead Ford Blue and Ford Model e, Ford Motor CEO Jim Farley said during the call. Davis brings over 30 years of experience at General Motors, Amazon and Alto Pharmacy , and is expected to drive Ford Pro’s next phase of growth in software, services and profitability, according to a July 30 Ford release. GM commercial fleet sales dip Meanwhile, General Motors’ commercial fleet sales dipped 1.1% YoY to 274,000 units in Q2, according to its July 22 earnings release. GM North America commercial fleet sales totaled 179,000 units in Q2, down 0.6% YoY, while the company’s overall fleet sales as a percentage of total vehicle sales landed at 17.8%, down compared with 19.3% in Q2 2024. GM Financial ’s commercial receivables fell 2.4% YoY to $16.7 billion, according to the release. The lender also increased its allowance for commercial loan losses to $91 million in Q2, up 82% YoY. U.S. industry demand spiked in April and May due to a tariff-related sales pull-ahead, then normalized in June and July in line with the full-year outlook of 16 million units, GM CEO Mary Barra said during the company’s July 22 earnings call. “Throughout the first and second quarters, GM outperformed the market in total fleet and retail market share year over year,” she said. “We also gained total fleet and retail market share sequentially from Q1 to Q2 despite increased incentives from our competitors.” Market reaction J.P. Morgan maintained its “overweight” rating on Ford following the company’s Q2 earnings report, highlighting solid Ford Pro performance, resilient margins despite tariff concerns and reiteration of full-year guidance with improved Model e cost control and positive cash flow, according to a July 31 research note. Meanwhile, GM’s Q2 earnings beat expectations due to strong execution, better-than-expected tariff costs, and solid North America and China performance, according to a July 23 J.P. Morgan research note. “We like GM’s concentration on its North America profit center of full-size trucks and SUVs, believing that its retreat from various international markets, including Europe, has allowed for more focused management attention and better execution,” according to the note. J.P. Morgan reaffirmed full-year guidance for GM despite investor concerns over a wide second-half earnings range, according to the note. Still, tariffs remain a concern for both OEMs , as General Motors took a $1.1 billion Q2 hit from tariffs and expects full-year costs of $4 billion to $5 billion, with about 30% offset by mitigation efforts, according to J.P. Morgan’s GM research note. Ford reported an $800 million Q2 tariff impact — less severe due to its U.S. manufacturing base — and now projects a 2025 tariff cost of $2 billion to $3 billion, according to J.P. Morgan’s Ford research note. Shares of Ford Motor Co. [ NYSE: F ] were up 1.2% from market open to $10.95 as of market close today. The company has a market cap of $43.03 billion. Shares of General Motors Co. [ NYSE: GM ] were up 0.46% from market open to $52.77 as of market close today. It has a market cap of $50.01 billion. Editor's note: This article orginally appeared in Equipment Finance News, an Auto Finance News sister publication. Auto Finance Summit, the premier industry event for auto lending and leasing, returns Oct. 15-17 at the Bellagio Las Vegas. Learn more about the 2025 event and take advantage of the Aug. 29 early-bird registration here .

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