Ford’s U.S. Sales Rose 4.1% in May Despite Chip-Related Shortages of Key Models

Ford Motor Company (NYSE:F) said today that its U.S. sales rose 4.1% in May from a year ago, despite exceptionally tight inventories caused by a global shortage of crucial computer chips.

The global chip shortage, a result of a surge in demand for computers and consumer electronics during the pandemic, has limited Ford’s ability to fill surging orders for key products including its huge-selling F-Series pickups. 

But with supplies of new vehicles tight across the industry, Ford has been able to sell its most-profitable products at strong prices, without significant incentives. 

New technology has helped draw buyers to showrooms. Ford said that “electrified vehicles,” meaning hybrids as well as the battery-electric Mustang Mach-E, have been a bright spot. The company sold over 2,800 examples of its new hybrid F-150 PowerBoost pickup in May, while sales of hybrid versions of the Escape and Explorer SUVs were more than double year-ago levels. 

A red 2021 Ford Mustang Mach-E, a sporty electric crossover, parked in front of a Florida hotel.

Ford has built almost 28,000 of the Mustang Mach-E this year, more than expected. Image source: Ford Motor Company.

Ford delivered 1,945 Mustang Mach-Es in the U.S. in May as it ramped up exports to other markets including Norway, where the sporty electric crossover was the country’s best-selling vehicle last month. Year to date through May, Ford has manufactured 27,816 units of the Mustang Mach-E, with 10,510 of those going to U.S. customers. 

But not all the news was good. Production halts at the two U.S. factories that build Ford’s top-selling F-150 have limited dealers’ supplies of the new-for-2021 trucks. Total sales of F-Series pickups, which include the F-150 and the F-250 and F-350 Super Duty variants, fell 29.2% from a year ago to just 46,260 trucks. 

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

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View more information: https://www.fool.com/investing/2021/06/03/fords-us-sales-rose-41-in-may-despite-chip-related/

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