Countless numbers of Ford F-150s with no chips are stored at Kentucky Speedway in Sparta, Kentucky, U.S., September 8, 2021.
Jeff Dean | Reuters
DETROIT – Ford Motor’s U.S. car or truck product sales confirmed symptoms of advancement throughout the third quarter, but nonetheless fell by 27.4% from final year as an ongoing scarcity of semiconductor chips interrupted car or truck manufacturing.
The drastic decrease was narrower than car forecasters anticipated, but wider than the general market that was estimated to be down among 13% and 14% from the similar time past year. Cox Automotive expected Ford’s sales to be down by 37.3% during the 3rd quarter, even though Edmunds forecast a 29.3% decline.
A silver lining is Ford’s profits enhanced all through the quarter from losses of extra than 30% in July and August to 17.7% in September, signaling superior source of semiconductor chips. Its automobile inventory also improved to 236,000 vehicles and trucks, up 21,000 models in contrast with the get started of September.
Shares of Ford were being up by much more than 4% in buying and selling Monday early morning.
Ford bought 400,843 motor vehicles in the third quarter, like extra than 156,600 in September. Its sales heading into October were being almost 1.4 million, down by 7% in contrast with the initially a few quarters of 2020.
Ford said reservations for its upcoming F-150 Lightning electrical pickup have topped extra than 150,000. That compares with 100,000 reservations at the conclusion of the 2nd quarter, in accordance to the business.