Ford Motor Company (NYSE: F) today reported its fourth quarter and full-year 2020 U.S. sales results. Ford says Q4 total industry sales totaled approximately 4.3 million vehicles – a decline of 2.8 percent over a year ago. In Q4 Ford Motor sales dropped 9.8%, a disastrous result for management.
For the year Ford sales dropped -15.6%. Ford sales were hurt by lower F-150 inventories from the ongoing consequences of the Q2 coronavirus production stoppage, which resulted in an awful F-150 transition to a revised pickup. Super Duty sales maintained pace and were up 14.1% while F-150 sales were off, gulp, -32.7%, which will make for a grim Q4 2020 financial loss. At the moment Ford executives appear to be in the automotive industry equivalent of an FBI witness protection program – no more sales results press conferences.
Q4 marks another re-organization moment for Ford, as Fusion and Fiesta sales wind down, F-150 transitions and new SUVs including Bronco Sport and Mustang Mach E sales begin. Q4 Ford brand SUV sales posted an overall increase of 4.7% and 9.8% at retail, led by Explorer, Expedition and the all-new Bronco Sport. Explorer appears to be America’s best-selling mid-size SUV on sales of 226,217 vehicles. In fact, Explorer is one of the rare Ford nameplates to increase its sales in 2020, with a reported gain of 20.9%. Led by Transit, Ford Q4 van sales totaled 59,056 vehicles – making Ford the best-selling maker of commercial vans for 42 years straight, with 2020 van sales totaling 203,153 vehicles.
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