Ford saw its October US sales slump 10% over the last year as the company continued to battle supply chain difficulties
Ford sold 158,327 vehicles last month, down from almost 176,000 vehicles in the same period last year, the company said Wednesday. Not all automakers saw sales declines, however. Korean automakers Hyundai and Kia reported strong sales for the third month in a row, and Japanese automaker Toyota saw year-over-year sales rise 28% in October. Other competitors like GM and Stellantis post sales quarterly, rather than monthly.
Shortages and the rising cost of supplies raised Ford’s expenses by about $1 billion in the third quarter. There were glimmers of hope for Ford, however. Electric vehicle sales – a comparatively tiny proportion of Ford’s current lineup that the company plans to be the majority in the near future – were up almost 120% over the last year to over 6,000 vehicles.
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