Ford Motor said on Thursday that due to the continued global chip shortage that has caused severe damage to the auto industry, the company’s car sales in the United States last month dropped 33.1% from the same period last year. Ford Motor said that the company’s total US vehicle sales in August were 124,176, a year-on-year decrease of 33.1%, of which truck sales fell 29.4%, SUV sales fell 25.3%, and sedan sales fell 86.0%.
August has always been one of the months with high car sales of the year, but global chip shortages have caused car inventory levels to plummet to historical lows, and the prices of new cars and trucks have soared. Compared with last year, the sales of almost all models in Ford’s product line declined last month. Most notably, Ford’s best-selling F-series pickup truck dropped by 22.5% to 57,321 units.
At the same time, the company’s electric vehicle sales increased by 67.3% to 8,756 units against the trend. Ford’s F-150 Lightning electric pickup truck has more than 130,000 pre-orders. According to consulting firm AlixPartners, the global chip shortage is expected to cause US$110 billion in revenue losses to the global automotive industry in 2021.
As of Wednesday’s close, Ford Motor’s shares have fallen 12.1% in the past three months, while the S&P 500 Index has risen 7.9%.
