- Ford’s Q3 sales got a boost from pickup trucks and SUVs.
- Sales for its F-Series pickup rose 3.5% in the quarter when compared with a year ago, marking its best pickup sales since 2005, the company said.
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Ford on Friday continued to show signs of a recovery from the COVID-19 pandemic as demand for sports utility vehicles and pickup trucks helped boost third-quarter sales in the United States.
The US auto sector has climbed back quicker than other industries, but automakers had a hand in that with aggressive incentives like zero-for-84 months financing, payment deferrals and job assurance programs.
Ford posted a 5% fall in U.S. auto sales for the third quarter but said a continuing recovery from pandemic-induced lockdowns helped it record better sales compared with the second quarter.
The No. 2 US automaker, which announces its quarterly sales volumes a day later than the rest of the industry, said it sold 551,796 vehicles in the country in the quarter, down from 580,251 a year earlier.
Its sales were, however, up 27.2% when compared with the preceding quarter.
Bigger rival General Motors reported a 10% decline in sales on Thursday and said the auto sales have been even more resilient and made a substantial rebound in the third quarter.
While overall industry sales in the quarter were down, the trend was positive as demand increased each month, especially among retail consumers for high-profit SUVs and pickup trucks.
(Reporting by Rachit Vats in Bengaluru; Editing by Maju Samuel)
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