The Los Angeles Post
U.S. World Business Lifestyle
Today: March 15, 2025
Today: March 15, 2025

Ford reports weak US sales for third quarter

2020 Ford Explorer cars are seen at Ford's Chicago Assembly Plant in Chicago
October 02, 2024
Reuters - Reuters

(Reuters) -Ford on Wednesday became the latest U.S. automaker to report weaker growth in domestic new vehicle sales in the third quarter, as buyers continued to shy away from purchases on affordability concerns.

The company's shares fell about 2% in early trading.

Major automakers in the United States, including Toyota and General Motors, reported weaker sales for the quarter on Tuesday, with some citing affordability concerns and fewer selling days as a drag on performance.

Chrysler-parent Stellantis also reported a 20% drop in U.S. quarterly sales on Wednesday and added that it would "continue to take the necessary actions" to drive sales and prepare for the arrival of its 2025 models.

Consumers have also shifted their preferences over the past year to favor affordable subcompact crossovers and pickup trucks instead of larger luxury models in the face of economic uncertainties.

Sales of Ford's top-selling F-series trucks gained about 4% in the quarter, compared with last year's nearly 13% rise. Affordable compact Maverick pickup truck's sales jumped 33.2% to 31,883.

Ford's overall sales in the quarter rose to 504,039 units from 500,504 a year ago. This compares to a 7.7% rise in sales for the same period last year.

Overall, U.S. new vehicle sales in September stood at around 1.17 million units, which represents a seasonally adjusted annual rate of 15.77 million units, according to data released by Wards Intelligence on Tuesday.

(Reporting by Nathan Gomes in Bengaluru; Editing by Shreya Biswas and Maju Samuel)

Related Articles

Stellantis to halt production in Turin in December due to weak demand for Fiat 500 EV Union says layoffs at Ford spell 'incremental death' for German site German auto supplier Bosch to cut 5,500 jobs in further sign of carmakers' woes Jeep prices have gone through the roof. Buyers are bailing and dealers are furious
Share This

Popular

Business|Economy|Finance|Political|Stock Markets|US

With Trump's zigzag actions on trade, March came in like a lion and won't be going out like a lamb

With Trump's zigzag actions on trade, March came in like a lion and won't be going out like a lamb
Americas|Business|Crime|Europe|World

Russian captain of a cargo vessel involved in North Sea collision appears in UK court

Russian captain of a cargo vessel involved in North Sea collision appears in UK court
Asia|Business|Crime|Finance|Stock Markets|Technology

China to crack down on stock market fake news as AI spurs misinformation, says state media 

China to crack down on stock market fake news as AI spurs misinformation, says state media 
Business|Economy|Europe|Political

EU countries draft plan to soften gas storage targets, document shows

EU countries draft plan to soften gas storage targets, document shows

Economy

Africa|Business|Economy|Environment

A river โ€˜died' overnight in Zambia after an acidic waste spill at a Chinese-owned mine

A river โ€˜died' overnight in Zambia after an acidic waste spill at a Chinese-owned mine
Economy|Environment|Political|US

Critics warn staff cuts at federal agencies overseeing US dams could put public safety at risk

Critics warn staff cuts at federal agencies overseeing US dams could put public safety at risk
Economy|Political|US

Democrats confront limits of their minority power after bruising shutdown vote

Democrats confront limits of their minority power after bruising shutdown vote
Americas|Economy|World

Cuba suffers another massive power outage leaving millions in the dark

Cuba suffers another massive power outage leaving millions in the dark

Access this article for free.

Already have an account? Sign In