Ford fourth-quarter U.S. sales fall 9.8% By Reuters

© Reuters. The logo of Ford is seen on a 2020 Ford Explorer car at Ford’s Chicago Assembly Plant in Chicago

(Reuters) -Ford Motor Corp on Wednesday posted a 9.8% fall in quarterly U.S. auto sales, as a fall in sales of its profitable trucks outweighed higher demand for sport utility vehicles.

The No. 2 U.S. automaker sold 542,749 vehicles in the fourth quarter, down from 601,862 a year earlier.

The automaker posted a 12.5% decline in truck sales as well as a 41.1% fall in passenger cars as it continues to phase out traditional sedan models in North America that have become increasingly unpopular with consumers.

Sales of its SUVs, however, rose 4% to 216,732 units.

“Fourth quarter represented an inflection point at Ford in our transition from cars to a much greater focus on iconic trucks, SUVs and electric vehicles,” said Andrew Frick, vice president at Ford’s sales in the United States and Canada.

“We are well positioned to see the benefits of our focused efforts throughout 2021,” Frick added.

Increased demand for new vehicles during the COVID-19 pandemic helped General Motors Co (NYSE:) and other automakers report strong fourth-quarter U.S. sales on Tuesday.

Auto sales in the United States managed to bounce back since hitting a pandemic-fueled bottom in April, leading major automakers to ramp up production to rebuild dealer inventories.

However, rising COVID-19 cases in the United States have increased the uncertainty over a speedy rebound.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button