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Ford new car sales slow as expected in August

2023 Ford F-150 Raptor R

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DETROIT – Ford Motor Company said Friday double-digit year-over-year U.S. sales last month were down about 4% from the previous month as the company and the auto industry continue to manage critical supply chain issues. rice field.

The Detroit automaker reported August sales of 158,088 new vehicles in the U.S., up 27% from August 2021, when the company’s production and sales were hit hard by a shortage of semiconductor chips. Highs fell 3.6% compared to July, including an 8% decline for F-series pickup trucks.

However, these sales were in line with analyst expectations. The company’s Ford brand has been the best-selling brand in the United States for two straight months, according to the company.

Ford’s profitable F-Series pickup sales grew 1.7% in the month to 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 last month.

“The F-Series was the best-selling truck in America in August, the best-selling hybrid truck, and the F-150 Lightning-powered electric truck. We have expanded fourfold in 2018 and outperformed our competitors by a percentage of over 60%,” said Andrew Frick, Ford’s vice president of sales, distribution and trucks, in a release.

Ford’s 2022 electric vehicle sales totaled over 36,500 by August. This includes sales of around 5,900 units in August, down 23% from the previous month, but year-over-year he was up more than 300%.

Year-to-date sales of all Ford vehicles, including the luxury Lincoln brand, topped 1.2 million units through August, down 0.2% from a year earlier. At the end of last month, the automaker’s U.S. vehicle inventory, which includes dealer inventories and vehicles in transit, rose to about 259,000 from 245,000 in July.

JD Power and LMC Automotive estimate that US new car sales topped 980,000 last month. This is 2.6% less than in August 2021. It is the first month that vehicle inventories in the auto industry have been significantly affected by the continued shortage of semiconductor chips.

According to RBC Capital Markets, the seasonally adjusted annual rate (SAAR) for new cars was 13.4 million, slightly above the forecast of 13.2 million and in line with July’s 13.5 million. SAAR is the metric that analysts and investors are watching.

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