Ford reports 10.3% drop in Q2 U.S. vehicle sales; EV sales fall 40.7%

According to CNBC, Ford Motor reported a 10.3% decline in second-quarter U.S. new vehicle sales to 549,200 vehicles from 612,095 a year earlier, citing a supplier issue affecting F-Series pickup trucks and a sharp drop in all-electric vehicle sales. The automaker said pure EV sales fell 40.7% from a year earlier, while F-Series sales slipped 11% as it ramped production after its top aluminum supplier restarted output following two fires late last year; Ford said it expects supply to recover more fully in the second half of the year. The results slightly beat Cox Automotive’s expectation for an 11.5% sales decline, and Ford said it has sold 1 million vehicles year to date through June, down 9.6% from 1.1 million in the first half of last year; it also estimated its U.S. retail market share rose 0.2 percentage point to 12.3%.