Ford’s new facility to build new generation F-150 takes toll on sales in October
Ford Motor Co’s US sales fell 6.1% in October, dragged down in part by a factory overhaul to produce the redesigned version of its top-selling F-150 pickup.
The decline compared with an industrywide gain of 1%, according to figures cited in a report issued Wednesday by Credit Suisse, as the US market continues to rebound from the springtime closure of factories. Ford sold 181,820 vehicles last month when heavy trucks are excluded, down from 193,571 a year earlier, it said in a securities filing.
Shares of Ford slipped 1.7% to $7.75 at 1:34 pm in New York after falling as much as 2.3% in earlier trading.
Ford stopped publicly reporting US monthly sales in 2018 a few months after rival General Motors Co switched to quarterly reporting. Since then, Fiat Chrysler Automobiles NV and much of the rest of the industry has followed suit.
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The automaker now has decided it will be publishing monthly sales results for the “foreseeable future" to give investors more detail on its US performance during the pandemic, said Said Deep, a company spokesman.
