TLDR
- Ford’s Q3 U.S. sales declined 6.6% to 507,395 light-duty vehicles in the quarter.
- The automaker retained the No. 3 U.S. sales position by a slim margin, edging out Hyundai’s 506,200 combined vehicles.
- Ford stock (F) declined 0.69%, losing $0.08 per share following the announcement.
- F-Series pickup truck sales decreased just 1.9%, benefiting from better inventory following supplier disruptions.
- Electric vehicle sales collapsed 67.5% compared to last year after federal tax credits expired.
Ford stock (F) declined 0.69% after the Detroit automaker announced a 6.6% decrease in third-quarter U.S. sales. Despite the downturn, the company narrowly maintained its position as the nation’s third-largest automaker ahead of a fast-growing Hyundai.
The Dearborn-based manufacturer moved 507,395 light-duty vehicles throughout the three-month period. This figure doesn’t include commercial heavy-duty trucks, which Ford reports in a separate category.
Hyundai’s combined brands—including Kia and Genesis—registered a 5.4% sales gain to reach 506,200 vehicles. Industry analysts at Cox Automotive had previously forecast that the Korean conglomerate would surpass Ford during this period.
However, both manufacturers exceeded those projections. Ford maintains a cushion of approximately 89,700 vehicles over Hyundai through the first nine months of the year.
Ford representatives emphasized that Hyundai and Kia function as distinct brands in the American market. The company minimized the significance of the Korean automaker’s encroachment.
What Drove the Decline
Ford discontinued both the Escape crossover and Lincoln Corsair SUV during this calendar year. The absence of these models creates challenging year-over-year comparisons since they contributed sales in the previous year.
Additionally, the automaker faced challenges from two separate supplier facility fires during the prior year. These incidents severely disrupted F-Series manufacturing and constrained sales throughout several months.
According to Rob Kaffl, Ford’s U.S. sales director, those supply chain issues have largely been addressed. He anticipates stronger performance in the final quarter as inventory levels normalize.
Sales of the F-Series lineup, encompassing the F-150 and other models, decreased only 1.9% during the quarter. This represents a significantly smaller drop compared to the company’s overall performance.
However, the now-discontinued F-150 Lightning electric truck weighed heavily on those figures. Lightning deliveries plummeted 97.1% in the three-month span.
The core Ford brand saw approximately 6% lower sales for the period. The Lincoln premium division experienced a steeper 18% contraction.
Fuel Costs and Electric Vehicle Trends
Gasoline prices have surged considerably throughout the year. According to AAA data, the nationwide average reached $4.43 per gallon in September, jumping from $3.20 during the same month last year.
Ford leadership indicates this price increase is driving consumers toward hybrid powertrains. Interest in hybrid versions, including the hybrid F-150, has grown substantially.
The compact Maverick pickup, available with a fuel-efficient hybrid drivetrain, recorded sales growth exceeding 20% to reach 41,970 units. This model ranks among Ford’s best-performing vehicles this quarter.
Overall truck sales at Ford, encompassing the F-Series range, actually increased 0.5% to 315,112 units. Pickups continue to represent the foundation of the manufacturer’s revenue stream.
Vehicle affordability remains a challenge for consumers throughout the automotive sector. The average new-vehicle selling price climbed 1.9% to $50,089 in August, according to Cox Automotive data.
Ford’s electric vehicle segment showed particularly weak results. EV sales tumbled 67.5% year-over-year through September, including an 80% plunge specifically in the third quarter.
The year-over-year comparison proves difficult because last year’s EV deliveries experienced an artificial spike. Consumers accelerated purchases to secure federal tax incentives worth up to $7,500 before they were eliminated under the Trump administration.
Ford’s dramatic EV sales reduction primarily reflects the absence of those federal incentives rather than underlying demand shifts. The automaker has not yet introduced replacement promotional programs to compensate for the lost tax credits.
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