Ford pickup truck sales lead third-quarter growth

In the third quarter, Ford Motor’s U.S. new vehicle sales experienced a 7.7% increase compared to the same period the previous year, primarily driven by higher sales of traditional pickup trucks throughout its product range.

On Wednesday, the Detroit automaker reported a substantial 15.3% surge in truck sales, contrasting with a 5.1% dip in car sales and essentially flat sales of SUVs.

Ford’s sales growth aligned with the expectations of automotive authority Edmunds for the company but fell short of the broader auto industry’s forecasts, which anticipated a third-quarter increase of 15% to 16%.

During the quarter, Ford witnessed a 14.8% increase in sales of electric vehicles, reaching nearly 21,000 units, CNBC reported.

READ MORE: https://www.cnbc.com/2023/10/04/ford-reports-7point7percent-increase-in-third-quarter-sales.html

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