In the third quarter, Ford reported a 6.6% year-over-year decline in sales, totaling 507,395 light-duty vehicles, which excludes heavy-duty trucks. This decline allowed Ford to retain its No. 3 sales position by a slim margin over Hyundai Motor, which saw a 5.4% increase in sales to 506,200 vehicles.
Analysts had predicted that Hyundai, which includes the Kia and Genesis brands, would surpass Ford in quarterly sales for the first time, reflecting Hyundai's strong performance in the U.S. market this year. Ford's struggles are attributed to production issues with its F-Series pickup trucks, stemming from two supplier fires last year that disrupted operations.
This competitive dynamic is significant as it underscores the challenges Ford faces in maintaining its market position amidst rising competition from Hyundai and its affiliates