Ford’s 3Q car gross sales outperform trade as demand recovers from coronavirus lockdowns

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Gross sales of F-Sequence pickups and SUVs helped Ford Motor outperform its Detroit crosstown rivals in addition to the auto trade within the third quarter.

Ford’s car gross sales within the third quarter fell by simply 4.9% from a yr earlier, the corporate mentioned, in contrast with steep declines for Basic Motors, Fiat Chrysler. Throughout the trade third-quarter gross sales fell by about 10% from the identical time final yr.

Such declines sometimes aren’t trigger for celebration, however this yr is something however typical. New car gross sales have recovered far sooner than many anticipated from the second quarter when the coronavirus pandemic brought about plant shutdowns and shuttered dealerships, sending gross sales down greater than 30% in comparison with 2019.

“The trade had a really sharp restoration from Q2 to Q3,” Mark LaNeve, Ford vice chairman of U.S. advertising and marketing, gross sales and repair, informed CNBC on Friday. “It has been a loopy yr however the trade has been resilient and our sellers have executed a terrific job.”

Ford mentioned its third-quarter gross sales have been up 27% relative to the earlier three months. It additionally reported its finest third quarter gross sales of pickups since 2005, in response to the corporate.



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