Ford Sale at the start of 2023
Ford sales in US Motor Company reported a 10.1% increase in first-quarter U.S. auto sales on Tuesday, thanks in large part to steady demand for electric vehicles, SUVs, and trucks in the wake of subsiding supply chain disruptions.
The Detroit automaker’s third-quarter sales increased alongside those of its global competitors because the industry as a whole was successful in meeting its quarterly targets for timely vehicle delivery to dealers and customers. Despite ongoing concerns that rising interest rates and an impending recession will dampen demand, automakers are reporting positive results.
Address of Chief Economist at Cox Automotive:
Chief economist at Cox Automotive Charlie Chesbrough says, “the U.S. new-vehicle market is showing signs of strength while also being reshaped by higher prices and fewer subprime buyers.”
In response to rising demand, Ford announced last month that production of several models, including the F-150 pickup truck, would be increased at a plant in Michigan.
Ford’s first-quarter sales increased to 475,906 vehicles, up from 432,132 during the same period a year ago, according to figures released on Tuesday. More than ninety-five percent of sales were of crossover SUVs and pickup trucks.
Ford F-150 sale effect
Ford F-150 Lightning sales increased to 4,291 from 254 in the same time period a year ago, while EV sales increased by 41%. Tesla Inc., the market leader in electric pickup trucks, and Ford, the market leader in the United States and maker of the F-150 Lightning, have been locked in an increasingly heated price war since March.
Wards Intelligence figures about Vehices sales in the US
According to figures released by Wards Intelligence on Monday, annual sales of new vehicles in the United States hit 14.82 million in March, with 1.37 million sold during the month.
In first-quarter ford sales in US increased to 475,906 vehicles, up from 432,132 during the same period a year ago, according to figures released on Tuesday. More than ninety-five percent of sales were of crossover SUVs and pickup trucks.
Sales of electric vehicles increased by 41%, while sales of Ford’s F-150 Lightning pickup truck rose from 254 to 4,291.
Ford, a U.S. automaker, raised prices on some models of its F-150 Lightning electric pickup trucks in March, intensifying the price war with market leader Tesla Inc (TSLA.O).
According to figures released by Wards Intelligence on Monday, annual sales of new vehicles in the United States hit 14.82 million in March, with 1.37 million sold during the month.
In response to rising demand, Ford announced last month that production of several models, including the F-150 pickup truck, would be increased at a plant in Michigan.
Ford’s first-quarter sales increased to 475,906 vehicles, up from 432,132 during the same period a year ago, according to figures released on Tuesday. More than ninety-five percent of sales were of crossover SUVs and pickup trucks.
Effect on Electric Vehicles
Sales of electric vehicles increased by 41%, while sales of Ford’s F-150 Lightning pickup truck rose from 254 to 4,291.
Tesla Inc., the market leader in electric pickup trucks, and Ford, the market leader in the United States and maker of the F-150 Lightning, have been locked in an increasingly heated price war since March.
According to figures released by Wards Intelligence on Monday, annual sales of new vehicles in the United States hit 14.82 million in March, with 1.37 million sold during the month.
In response to rising demand for Ford sales in US, Ford announced last month that production of several models, including the F-150 pickup truck, would be increased at a plant in Michigan.
In first-quarter Ford sales in US increased to 475,906 vehicles, up from 432,132 during the same period a year ago, according to figures released on Tuesday. More than ninety-five percent of sales were of crossover SUVs and pickup trucks.
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