Ford Motor Reveals U.S. Sales has Fallen 4.5% in May Compared to the Previous Year
Jun 2, 2022 By MarketDepth
Ford Motor (NYSE: F) revealed that its U.S. sales had fallen 4.5% in May compared to the previous year, a smaller decline than in the last few months. The results come as the automaker continues to experience high demand for its newest vehicles following a lack of new cars, trucks and SUVs on the market.
“While the global semiconductor chip shortage remains an issue for the industry, our inventory continues to turn at record rates with nearly 50 percent of our retail sales coming from previously placed orders. Our newest models, including Bronco, Bronco Sport and Maverick, continue to enhance our sales volume. Our electric vehicle sales, with the addition of F-150 Lightning this month, increased 222 percent – growing at almost four times the rate of the industry.”Andrew Frick, vice president, Sales, Distribution & Trucks, Ford Blue
Ford U.S. sales did better than most companies within the industry. Gains were seen amid battery electric vehicles, F-series and Ford SUVs. Furthermore, almost 50% of retail sales were from pre-orders, in comparison to about 9% for the same period last year.
According to a Ford spokesperson, the company believes that overall U.S. new vehicles sales plummeted approximately 30% in May, meaning that Ford has probably gained market share.