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HomeAutomobileFord's first quarter gross sales fall 17% as automaker battles chip scarcity

Ford’s first quarter gross sales fall 17% as automaker battles chip scarcity

An worker works on the 40 millionth Ford Motor Co. F-Sequence truck on the meeting line on the Ford Dearborn Truck Plant on January 26, 2022 in Dearborn, Michigan.

Jeff Kowalsky | AFP | Getty Pictures

DETROIT – Ford Motor’s U.S. gross sales of latest autos declined 17% throughout the first quarter, together with a 26% slide final month, because the automaker battles a world scarcity of semiconductor chips.

The automaker on Monday reported first quarter gross sales of 432,132 autos, together with 159,328 models in March. These gross sales had been in-line with analyst expectations.

Andrew Frick, Ford vp of gross sales, distribution and vans, stated the corporate skilled some constructive indicators for gross sales heading into the spring promoting season.

“Whereas the worldwide semiconductor chip scarcity continues to create challenges, we noticed enchancment in March gross sales, as in-transit stock improved 74% over February. F-Sequence had a document 50,000 new retail orders in March, whereas a document 41% of our general retail gross sales got here from beforehand positioned retail orders,” he stated in a press release.

Gross sales of Ford’s vans had been off 23% throughout the first quarter. Automobile gross sales had been down 49%, whereas SUV gross sales had been off simply 5.1%.

Gross sales of Ford’s extremely worthwhile F-Sequence pickups, together with the F-150 and its bigger siblings, had been down 31% throughout the first quarter, together with a 47% decline in March. On improved stock, Ford stated its SUVs gross sales elevated 39% in contrast with February.

Automakers akin to Ford have been managing a world scarcity of semiconductor chips for greater than a yr. The elements scarcity has precipitated sporadic shutdowns of vegetation and depleted new car inventories.

Ford is among the many final of the main automakers to report its March and first quarter gross sales. U.S. new-vehicle sales general for January by means of March probably got here in beneath 3.3 million, down 14% from the primary quarter of 2021, business analysts say.

Ford touted demand for its latest autos, such because the Bronco and Bronco Sport SUVs and the Maverick small pickup truck. March Maverick gross sales elevated 115% from February, with the common car promoting off a seller lot simply 4 days after arrival.

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