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Ford F recently announced the September 2021 sales figures for the United States — the company’s most significant market.
During September, the auto giant sold 156,614 vehicles in the United States, marking a 17.7% drop from September 2020 but an improvement over July's 120,053 and August's 124,176 units. Ford's retail sales declined 20.8% year over year in the month.
Truck sales during September slipped 22.6% year on year to 83,554 units and the car sales plummeted 80.3% to 2,800 units, while the SUV sales grew 3.4% to 70,260 units.
The Ford brand vehicle sales in September dipped 17.5% to 148,967 units and the Lincoln brand vehicle sales also fell 20.9% to 7,647 units, year over year.
However, despite such broad sales declines, there were a few bright spots for the Dearborn automaker. New products and improved inventory steered Ford to be the top-selling automaker in September, with retail sales up 34.3%, sequentially. This uptick displays the gained momentum as the automaker begins to recover from the semiconductor shortage and rolls out several new models, including the Ford Bronco and Maverick pick-up.
Also, per Ford, vehicles are moving from dealer lots to customers at the fastest pace this year. Moreover, the automaker continued to expand its retail orders in September, with 52,000 new orders placed. Management noted that its electrified vehicle sales produced a new all-time monthly sales record of 9,150 in September, surging 91.6% from last year. The Mustang Mach-E sales totaled 1,578.
The F-150 Lightning reservations have now topped the 150,000 mark, of which more than 75% of these reservations are from buyers migrating from other brands. At the end of September, Ford's highly coveted new Maverick pick-up posted its first sales report with 506 sold.
The overall F-Series sales continued to increase, marking its best month since the semiconductor shortage began, with 63,164 units sold. Ford recorded 3,396 Bronco sales and 11,686 sales of the new Bronco Sport in September.
Meanwhile, Ford’s vehicle sales in the United States for the third quarter of 2021 came in at 400,843 units, declining 27.4% from the prior-year quarter amid the prevailing shortage of semiconductor chips which continues to plague the auto sector.
The truck sales during the September-end quarter dropped to 229,738 units from the 311,751 units sold in the corresponding quarter last year and car sales plummeted to 9,534 units from the 48,242 units reported in prior-year quarter. Also, SUV sales fell to 161,571 units from the 191,803 units sold in third-quarter 2020.
The Ford brand vehicle sales fell to 383,805 units during third-quarter 2021 from the 524,242 units sold in third-quarter 2020, and the Lincoln brand vehicle sales dropped to 17,038 units from the prior-year quarter’s 27,554 units.
Ford’s peers, General Motors GM and Stellantis NV STLA, also reported their third-quarter sales, which were down 33% and 19%, year over year, respectively. Meanwhile, the Japanese automaker Toyota's TM quarterly sales of 566,005 in the United States were up 1.4%, year over year.
Ford currently carries a Zacks Rank of 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Ford Motor Company (F) : Free Stock Analysis Report
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