Tuesday, June 28, 2022

Ford’s June sales fell 26.9 percent as the company missed its second-quarter results.

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Bronco SUVs manufactured at Ford’s Michigan Assembly Plant, June 14, 2021.

Michael Wyland | Acesparks

DETROIT – Ford Motor’s sales in June and second-quarter were lower than analysts had expected, as a global shortage of semiconductor chips led to a significant reduction in production and inventory restrictions.

Ford sold 475,327 vehicles in the second quarter, up 9.6 percent from a year earlier, which caused Americans to seek shelter and temporarily close auto dealers due to the coronavirus pandemic. Edmunds expects Ford sales to grow 10.5 percent, while Cox Automotive expects growth to be 20.5 percent.

For June, the automaker said its sales fell 26.9 percent on Friday, including about 30 percent for F-Series pickups.

The company said stocks for the electric F-150 Lightning pickup next year have exceeded 100,000 since its debut in May.

Ford sales report significant second-quarter sales after GM and other automakers, but at a slower pace during the quarter due to lower vehicle inventories due to a lack of chips.

“The quarter got off to a very strong start, with April breaking many records for sales of more than $ 18 million, and since then we’ve seen inventory decline,” said Jessica Caldwell, Edmunds ’chief executive of explanations. “Consumer demand is still very strong, but inventory is a bit lacking.”

Analysts estimate June sales were about 15.5 million vehicles. Sales forecasts ranged from 15.7 million to 16.4 million, with 17.1 million in May and 18.6 million in April.

The sales rate of any given month, if sold at the same amount per month, measures how many cars the industry will sell during the year. This is a key barometer of industry health and consumer demand.

Chip shortages are causing a stir in America’s auto ranks. In the second quarter, Toyota Motor became the best-selling automaker in the U.S., overtaking General Motors.

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