Ford’s August vehicles sales drops by one-third from last year

Ford Motor Co.

reported August total vehicle sales that dropped by one-third from a year ago, with sharp declines in all types of vehicles, although electric vehicles sales jumped by two-thirds to a new August record. The automaker’s stock was little changed in morning trading. Total sales were 124,176 vehicles, down 33.1% from a year ago, as trucks sales dropped 29.4%, SUV sales fell 25.3% and car sales slid 86.0%. Within trucks, F-Series sales fell 22.5% to 57,321 vehicles. Meanwhile, electrified vehicle sales rose 67.3% to 8,756 vehicles. Reservations for Ford’s full electric F-150 Lightning truck surpassed 130,000 vehicles. On a monthly basis, Ford said August retail sales increased 6.5% from July, with F-Series retail sales growing 11% to mark the best F-Series sales month since the chip shortage began. Ford’s stock has dropped 12.1% over the past three months through Wednesday, while the S&P 500

has gained 7.9%.

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