Ford Motor Company (F)

[DiscoverGold]

Ford reports smaller sales decline in April while chip shortage weighs on supply
By: CNBC | May 4, 2022

DETROIT – Ford Motor on Wednesday reported a 10.5% decline in April sales compared with a year ago, notably narrowing its losses compared with recent months.

Ford and the broader auto industry continue to battle through supply chain problems such as a semiconductor chip shortage that has been affecting production for more than a year now. Ford’s monthly U.S. sales in February and March were down by more than 20% due to the problem.

“While industry semiconductor chip shortages persist, improved inventory flow in April delivered a significant share gain of 1 percentage point over a year ago with Ford outperforming the industry,” Andrew Frick, Ford vice president of sales, distribution and trucks, said in a statement.

The automaker has been attempting to prioritize chip supplies for in-demand products such as the electric Mustang Mach-E crossover, which nearly doubled in sales compared with April 2021. Sales of newer vehicles such as the Maverick small pickup and Bronco SUV also improved compared with March.

Sales of Ford’s crucial F-Series full-size pickup trucks, including the F-150, continue to struggle due to supply problems. Last month sales were down 22%, pushing them to be down nearly 30% for the year. F-Series sales did increase by 15% compared with March, signaling improved production and supplies.

Ford sold 609,097 vehicles through April, a 15% decline compared with a year earlier. The company’s sales from March to April increased by 11%.

Read Full Story »»»

DiscoverGold