Ford’s auto sales slumped 6.8% last year, as ongoing global semiconductor shortages continued to weigh down on the auto industry.
Ford reported that it sold a total of 1.9 million cars throughout 2021, which is 6.8% fewer than the previous year’s figures. The automaker finished the year off with 247,000 units in stock, which is up from 22,000 cars noted in November, after the global chip shortage substantially depleted inventory levels last year.
However, despite the annual slump in sales, the automaker said it sold 508,451 units in the fourth quarter of 2021, marking a 26.8% gain from the previous three months. But, sales figures for the month of December were not as strong, as total US sales were down 17.1% year-over-year, with truck sales 15.5% lower and SUV sales down 11.1%. On the other hand, EV sales were sent soaring last month, rising 121.1% year-over-year to 12,284 units.
Information for this briefing was found via Ford. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
