Ford’s new vehicle sales slow in August, in line with expectations

2023 Ford F-150 Raptor R

Ford

DETROIT – Ford Motor on Friday mentioned its U.S. sales final month elevated double-digits from a yr earlier however had been off about 4% from the prior month, as the corporate and auto trade proceed to handle important provide chain points.

The Detroit automaker reported August sales of 158,088 new autos in the U.S., a 27% enhance from August 2021, when the corporate’s manufacturing and sales had been considerably impacted by a scarcity of semiconductor chips. Last month’s sales had been down 3.6% in comparison with July, together with an 8% decline in its F-Series pickup vehicles.

Those sales had been in line with analyst expectations, although. The firm mentioned its Ford model was America’s best-selling model for a second consecutive month.

Sales of Ford’s worthwhile F-Series pickups had been up 1.7% for the month from August 2021 however off 10.7% for the primary eight months of the yr in contrast with the identical interval final yr. The firm has bought 6,842 fashions of its all-electric F-150 Lightning pickup as of Aug. 31, together with 2,373 autos final month.

“F-Series was America’s best-selling truck, best-selling hybrid truck and best-selling electric truck with F-150 Lightning in August. Ford’s overall electric vehicle portfolio expanded four–fold in July, while conquesting from competitors at a rate over 60%,” Andrew Frick, Ford vp of sales, distribution and vehicles, mentioned in a launch.

Ford’s 2022 electrical vehicle sales totaled greater than 36,500 models by August. That included sales of about 5,900 autos in August, which was 23% decrease than the prior month however up greater than 300% from a yr in the past.

Year-to-date sales of all Ford’s autos, together with its luxurious Lincoln model, totaled greater than 1.2 million models by August, a 0.2% lower from a yr in the past. At the top of final month, the automaker’s U.S. vehicle stock, together with supplier inventory and in-transit vehicle, was about 259,000 models, up from 254,000 in July.

J.D. Power and LMC Automotive estimate complete U.S. new vehicle sales final month topped 980,000 models, which might be 2.6% decrease than August 2021 – the primary month the auto trade’s vehicle inventories had been considerably impacted by an ongoing scarcity of semiconductor chips.

RBC Capital Markets mentioned the seasonally adjusted annualized price, or SAAR, for new autos was 13.4 million, barely greater than its 13.2 million forecast and in line with July’s 13.5 million. The SAAR is a carefully watched metric by analysts and traders.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Popular Posts

All the Super-Enjoyable Things We Noticed in DC League of Super-Pets

DC League of Super-Pets is now streaming on HBO Max! The hilarious journey of Krypto and his new associates is full of punches and...

Billionaire Warren Buffett swears by this inexpensive investing strategy that anyone can try

In the previous 20 years, investing in low-cost index funds just like the S&P 500 has come to dominate a lot of the investing...

Key Disco Elysium Developers Have ‘Involuntarily’ Left the Company [Update: ZA/UM Responds]

Developer ZA/UM has responded to the information that key members of the Disco Elysium crew have departed the studio involuntarily.In an announcement to IGN,...

Credit Suisse shares tank on restructuring, capital concerns

A Swiss flag flies over an indication of Credit Suisse in Bern, SwitzerlandFABRICE COFFRINI | AFP | Getty ImagesShares of Credit Suisse plunged almost...

Tesla stock down after third-quarter deliveries report

In May, electric-vehicle maker Tesla was faraway from the S&P 500's ESG Index. In response, CEO Elon Musk tweeted that ESG was "a scam"...