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Ford's US car sales rise despite semiconductor crunch / Photo: BILL PUGLIANO - GETTY IMAGES NORTH AMERICA/AFP/File
NYSE - LSE
Ford's US car sales rise despite semiconductor crunch
Ford reported higher US auto sales Tuesday, bucking an industry-wide trend of declines in the latest quarter amid crimped supply of semiconductor and other key parts.
The Michigan giant delivered 483,688 vehicles, up two percent from the year-ago level.
While citing a continuation of supply constraints that have dogged the industry over the last year, Ford described vehicle demand as "strong."
Ford's sales were dominated by larger vehicles, including pickup trucks and sport utility vehicles. The burden of limited inventories has been cushioned by strong pricing.
"Amid industry-wide supply constraints, Ford outperformed the industry driven by strong F-Series, Explorer and new Expedition and Navigator SUV sales," said Andrew Frick, a vice president in sales and distribution at Ford Blue's, the company's division focused on internal combustion vehicles.
The results included the first deliveries of the new F-150 Lightning electric pickup truck, which added 2,296 units to the total.
Ford's sales figures came as rivals General Motors, Toyota and FCA (Stellantis) all reported quarterly sales drops of at least 15 percent amid supply chain problems.
L.Gallo--INP
