FORD’S APRIL SALES DROPPED BY 10.5% FROM A YEAR AGO

FORD’S APRIL SALES DROPPED

Gross sales of Ford Motor Firm (NYSE:F) in April plunged by 10.5% from the identical month final yr as losses tail off. For greater than a yr, the automaker and the entire automotive manufacturing trade have been grappling with chip shortages and provide chain constraints.

Ford’s Gross sales Plunge

As reported by CNBC, the semiconductor disaster has affected Ford’s month-to-month gross sales within the U.S. by 20% in February and March.

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Andrew Frick, Ford vice chairman of gross sales, distribution, and vans, stated in an announcement: “Whereas trade semiconductor chip shortages persist, improved stock circulate in April delivered a major share achieve of 1 proportion level over a yr in the past with Ford outperforming the trade.”

As a way to meet shopper expectations and to guard its extra in-demand merchandise, Ford has prioritized chips for the Mustang Mach-E crossover, whose gross sales this yr practically doubled from the identical month in 2021.

Whereas gross sales of recently-introduced fashions such because the Bronco SUV and the Maverick small pick-up truck have improved since March, gross sales of key fashions such because the F-Sequence decide ups —particularly, the F-150— are nonetheless flat.

Changes

CNBC experiences that gross sales of stated fashions have been down by 22% final month, edging them to a 30% plunge for the yr.

“F-Sequence gross sales did improve by 15% in contrast with March, signaling improved manufacturing and provides.”

As the corporate is shifting its focus towards electrical automobiles (EVs), the corporate additionally introduced it was reducing 580 salaried and contract workers on the U.S., and stated: “We proceed to align staffing across the essential expertise wanted to ship our merchandise, companies, and the Ford+ plan.”

“As a part of the continued administration of our enterprise, we’ll proceed to align our staffing to fulfill our future enterprise wants and plans.”

As reported by CNBC, Ford had 186,769 workers globally as of 2021, with 90,873, or 48.7%, hourly and salaried employees stationed within the U.S.

Picture Credit score: Pexels; Thanks

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