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Ford’s June Sales Fell 27% in U.S. Due to Chip Shortage

Ford’s June Sales Fell 27% in U.S. Due to Chip Shortage

Ford Motor Co. reported a 26.9% drop in its June U.S. sales compared with the same month a year ago, reflecting the impact the auto maker has experienced during a global shortage of semiconductor chips.

Ford’s results Friday come a day after most major auto makers reported their U.S. sales, with results indicating a slowing in the blistering pace the industry had experienced earlier in the year.

Ford also said this week that the chip shortage will force the car company to reduce or stop production at more than a half-dozen U.S. factories in July, including its pickup truck factories and an SUV factory in Chicago.

For the second quarter, Ford’s U.S. sales increased 9.5% compared with the April-to-June period in 2020. That is still a more modest gain than rivals General Motors Co. and Jeep-maker Stellantis N.V., which reported second-quarter sales increases of 40% and 32%, respectively.

Ford shares slid 4 cents to $14.88 in morning trading.

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Julia has handled various businesses throughout her career and has a deep domain knowledge. She founded Stock Market Pioneer in an attempt to bring the latest news to its readers. She is glued to the stock market most of the times and just loves being in touch with the developments in the business world.

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