Ford’s sales improving but still down by 27.4% in the third quarter

Countless numbers of Ford F-150s without the need of chips are stored at Kentucky Speedway in Sparta, Kentucky, U.S., September 8, 2021.

Jeff Dean | Reuters

DETROIT – Ford Motor’s U.S. car revenue showed symptoms of improvement all through the third quarter, but continue to fell by 27.4% from last year as an ongoing lack of semiconductor chips interrupted car or truck production.

The drastic drop was narrower than automobile forecasters expected, but broader than the in general sector that was estimated to be down involving 13% and 14% from the exact same time very last year. Cox Automotive expected Ford’s revenue to be down by 37.3% in the course of the 3rd quarter, although Edmunds forecast a 29.3% decline.

A silver lining is Ford’s profits enhanced for the duration of the quarter from losses of far more than 30% in July and August to 17.7% in September, signaling much better supply of semiconductor chips. Its vehicle stock also enhanced to 236,000 cars and vehicles, up 21,000 units as opposed with the commence of September.

Shares of Ford were up by much more than 4% in investing Monday early morning.

Ford marketed 400,843 automobiles in the third quarter, together with far more than 156,600 in September. Its profits heading into Oct had been nearly 1.4 million, down by 7% in contrast with the to start with a few quarters of 2020.

Ford explained reservations for its approaching F-150 Lightning electric powered pickup have topped more than 150,000. That compares with 100,000 reservations at the end of the second quarter, according to the company.