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

Ford's new vehicle sales slowed in August, in line with expectations

2023 Ford F-150 Raptor R


DETROIT — Ford Motor said on Friday that US sales rose double-digit last month from a year earlier, but were down about 4% from the previous month as the company and the auto industry remain significant supply chain problems. to manage.

The Detroit automaker reported sales of 158,088 new vehicles in the US in August, up 27% from August 2021, when the company’s production and sales were significantly impacted by a shortage of semiconductor chips. Last month’s sales were down 3.6% compared to July, including an 8% drop in F-series pickup trucks.

However, those sales were in line with analyst expectations. The company said its Ford brand was America’s best-selling brand for the second month in a row.

Sales of Ford’s profitable F-series pickups rose 1.7% in the month from August 2021, but fell 10.7% in the first eight months of the year compared to the same period last year. The company sold 6,842 models of its all-electric F-150 Lightning pickup truck as of August 31, including 2,373 vehicles last month.

“The F Series was America’s best-selling truck in August, best-selling hybrid truck and best-selling electric truck with F-150 Lightning in August. More than 60%,” said Andrew Frick, vice president of sales, distribution and trucks at Ford, in a press release.

Ford electric vehicle sales in 2022 totaled more than 36,500 units through August. That included sales of about 5,900 vehicles in August, which was 23% lower than the previous month but more than 300% higher than a year ago.

Sales of all Ford vehicles, including the Lincoln luxury brand, totaled more than 1.2 million units through August, down 0.2% from a year ago. At the end of last month, the automaker’s U.S. vehicle inventory, including dealer inventory and transportation vehicles, was about 259,000 units, up from 254,000 in July.

JD Power and LMC Automotive estimated total new car sales in the U.S. last month at 980,000 units, which would be 2.6% lower than in August 2021 — the first month the auto industry’s vehicle inventories were significantly impacted by a persistent shortage of semiconductor chips.

RBC Capital Markets said the seasonally adjusted annualized rate, or SAAR, for new vehicles was 13.4 million, slightly ahead of its forecast of 13.2 million and in line with July’s 13.5 million. The SAAR is closely watched by analysts and investors.