Ford Motor Company has reported a notable decline in its second-quarter U.S. vehicle sales, registering a drop of 10.3% compared to the same period last year. This downturn comes as the automaker grapples with supply chain challenges concerning its F-Series pickup trucks and a sharp decrease in sales of all-electric vehicles (EVs).
In detailed figures, Ford’s sales of pure electric vehicles plummeted by 40.7% year-over-year during the quarter. Additionally, sales of the renowned F-Series trucks, which include the popular F-150 model, decreased by 11%. The decline in F-Series sales is attributed to production delays as Ford worked to resolve supply issues following two significant fires at its primary aluminum supplier last year. Despite this setback, the automaker remains optimistic, stating, “Although customer demand remains high, first-half F-Series sales reflect a retiming of commercial production following last year’s aluminum supply shortages. Ford expects supply to recover more fully in the second half of the year.”
In total, Ford sold 549,200 vehicles in the second quarter, down from 612,095 units during the same timeframe in the previous year. This decrease, while one of the more significant industry declines, slightly outperformed Cox Automotive’s projections, which anticipated an 11.5% fall in Ford sales. Year-to-date, the company has sold 1 million vehicles, reflecting a 9.6% decrease from the 1.1 million sold in the first half of the previous year.
Despite the downturn in sales, the F-Series continues to retain its status as America’s best-selling truck. Furthermore, Ford’s retail market share in the U.S. is estimated to have increased by 0.2 percentage points from the previous year, ending the quarter at 12.3%.
The release of Ford’s sales figures follows a day after many major automakers reported second-quarter performance that surpassed expectations, primarily due to a surge in demand for hybrid vehicles. However, General Motors, a key competitor, experienced a 4.2% decline in sales, influenced by a significant drop in its electric vehicle sales.
Meanwhile, automotive analytics firm Motor Intelligence reported that U.S. industry sales for June were up by 7.5% year-over-year, suggesting a monthly adjusted selling pace of 16.67 million units, significantly higher than many analysts had predicted. Cox Automotive has forecasted a 2.9% overall decline in U.S. auto sales to 15.8 million vehicles this year, which includes a 3.4% decrease in retail sales and anticipates a 16.1 adjusted selling rate for June.
