Ford posts 7% fall in 2021 U.S. auto gross sales

The Ford emblem is seen on the North American Worldwide Auto Present in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid/File Picture

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Jan 5 (Reuters) – Ford Motor Co (F.N) reported a 6.8% fall in 2021 U.S. car gross sales on Wednesday, because the automaker struggled to ship its vehicles and vans because of lingering supply-chain bottlenecks and a world chip scarcity.

The Detroit automaker bought 1,905,955 automobiles in 2021, ending up behind new U.S. chief Toyota Motor Corp (7203.T) and rival Common Motors Co (GM.N). Ford had bought 2,044,744 automobiles a yr earlier.

Whole U.S. mild car gross sales for 2021 had been slightly below 15 million, in response to Wards Intelligence, beneath the five-year common of 17.3 million from 2015 to 2019.

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Gross sales of Ford’s Mustang Mach-E electrical crossover got here in at 27,140 for 2021. The corporate plans to triple the annual manufacturing of the electrical crossover to greater than 200,000 by 2023, to fulfill better-than-anticipated demand. learn extra

Ford has been sharpening deal with its electrical car technique and stated on Tuesday it could practically double annual manufacturing capability for its red-hot F-150 Lightning electrical pickup to 150,000 automobiles. learn extra

Its shares recovered from early weak point to commerce 1% larger on Wednesday at their highest stage since 2001.

They gained 136% in 2021, outperforming GM’s 40.8% rise and EV chief Tesla Inc’s (TSLA.O) 49.7% soar, as traders guess patrons will lap up the electrical model of the F-150. learn extra

“I feel there’s optimism with GM as properly, particularly in comparison with pre-2021, however currently Ford is having fun with the higher sentiment” because of its aggressive electrification technique, Morningstar Analysis analyst David Whiston stated.

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Reporting by Nathan Gomes and Aishwarya Nair in Bengaluru; Modifying by Sriraj Kalluvila and Aditya Soni

Our Requirements: The Thomson Reuters Belief Ideas.

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