Ford’s US Sales Decline 9.8% In 4Q; Street Says Hold
Ford Motor Co. announced that it sold 542,749 vehicles in the US
during the fourth quarter, reflecting a decline of 9.8%
year-over-year. Meanwhile, its US retail sales slipped 3.4% during
the same period. Ford's (F) truck sales fell 12.5%, while car sales
plunged 41.1%. However, SUV sales improved by 4% during the
quarter. The company said that lower F-150 inventories due to the
production stoppage amid the coronavirus pandemic took a toll on
Ford brand sales, which decreased by 10% year-over-year. Meanwhile,
Lincoln brand sales witnessed a decline of 7% during the quarter.
While 4Q sales remained weak, the company said that December retail
sales increased by 5.3%.