Ford Motor Co. sales were down nearly 3% in the fourth quarter as sales of the F-150 star were hit by epidemic-related stops leading to the release of the latest version of its pickup truck, the automaker said Wednesday.
The company said that sales totaled about 4.3 million cars in the first quarter, down 2.8% from the fourth quarter of 2019.
Total car sales in the U.S. decreased roughly 10% to 542,749 units, with truck sales down more than 12% and SUV sales down 4%.
Sales of the all-new Ford F-150 2021, the best-selling car in the United States in decades, began sales in December.
The company said: “Ford’s sales have been affected by a decrease in F-150 stocks by the continuing effects of the Q2 Coronavirus production shutdown that led to the transmission of the all-new F-150.”
Sales of the Ford Super Duty truck maintained a “strong selling pace” and were up 14.1%, while sales of the F-150 were down nearly 33%, the auto maker said.
Ford described the quarter as a “tipping point” as US sedan sales decline and sales of newly redesigned pickups and SUVs take off.
Several automakers were expected to record significant declines in the past year. Stop five periods in which US sales exceeded 17 million cars annually.
General Motors General Motors,
On Tuesday it announced a rise in total sales for the fourth quarter, but sales are down 12% in 2020.
Tesla Corporation TSLA,
It was reported Saturday that it produced more than half a million cars in 2020, and delivered 499,550 of them per year. In line with automaker’s pre-pandemic guidelines.
Ford shares have lost nearly 4% in the past 12 months, in contrast to gains of around 16% for the S&P 500. SPX,