Ford Motor reported a 10.3% decrease in its second-quarter U.S. vehicle sales, selling 549,200 vehicles compared to 612,095 units in the same quarter last year. The decline was attributed to a supplier issue affecting the production of its F-Series pickup trucks, which saw an 11% drop in sales. Additionally, the company's all-electric vehicle sales plummeted by 40.7% year-over-year.
Ford indicated that while customer demand remains strong, the first half of the year reflected a retiming of commercial production due to aluminum supply shortages caused by two fires at its top supplier. The company anticipates a more robust recovery in supply during the second half of the year.
Despite the significant decline, Ford's results slightly exceeded Cox Automotive's forecast, which had anticipated an 11.5% drop in sales. This situation underscores the challenges Ford faces in navigating supply chain disruptions while also adapting to changing market dynamics in electric vehicle demand