Ford reported sales of 175,918 new vehicles in October, down by 4% from a year ago, but are a far narrower loss than in prior months.
The sales mark Ford's best sales by volume since April and the first time since May that the company hasn't reported a double-digital monthly loss compared with 2020.
New U.S. vehicle sales were down by about 21% last month compared with a year earlier, according to Cox Automotive.Michael Wayland | CNBCU.S. vehicle sales showed positive signs of recovery from an ongoing shortage of semiconductor chips that's wreaked havoc on the global automotive industry this year.
The Detroit automaker on Wednesday reported sales of 175,918 new vehicles in October, down by 4% from a year ago, but are a far narrower loss than in prior months. The sales mark Ford's best sales by volume since April and the first time since May that the company hasn't reported"Through June of this year, Ford retail sales were up 10.7%.
Ford's sales last month outpaced the industry, according to Cox Automotive. The auto research company on Wednesday estimated new U.S. vehicle sales were down by about 21% compared with October 2020. That's better than Cox's initial forecast of a 30% decline. "The market is still experiencing very low inventory and correspondingly low incentives, but the worst is likely behind us," Cox said in a release.
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