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

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

Jeff Kowalsky | AFP | Getty Images

DETROIT – Ford Motor’s U.S. sales of recent automobiles declined 17% throughout the first quarter, together with a 26% slide final month, as the automaker battles a worldwide shortage of semiconductor chips.

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

Andrew Frick, Ford vice chairman of sales, distribution and vehicles, stated the company skilled some optimistic indicators for sales heading into the spring promoting season.

“While the global semiconductor chip shortage continues to create challenges, we saw improvement in March sales, as in-transit inventory improved 74% over February. F-Series had a record 50,000 new retail orders in March, while a record 41% of our overall retail sales came from previously placed retail orders,” he stated in a press release.

Sales of Ford’s vehicles had been off 23% throughout the first quarter. Car sales had been down 49%, whereas SUV sales had been off simply 5.1%.

Sales of Ford’s extremely worthwhile F-Series 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 sales elevated 39% in contrast with February.

Automakers such as Ford have been managing a worldwide shortage of semiconductor chips for greater than a year. The components shortage has induced sporadic shutdowns of vegetation and depleted new automobile inventories.

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

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

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