Ford’s Michigan Assembly facility is producing Bronco SUVs on June 14, 2021. Michael Wayland (Michael Wayland) | DETROIT (CNBC) – Due to a global shortage of semiconductor chips, Ford Motor Company’s June and second quarter sales fell short of analyst projections. This resulted in major production cuts and inventory limitations. Ford sold 475,327 vehicles in the second quarter, up 9.6% from a year ago, when the coronavirus pandemic forced Americans to shelter in place and forced auto showrooms to close temporarily. Edmunds predicted a 10.5 percent gain in Ford sales, while Cox Automotive predicted a 20.5 percent increase. The company reported a 26.9% dip in June sales, including a roughly 30% drop in F-Series pickups. Since its introduction in May, the business has received over 100,000 bookings for its electric F-150 Lightning truck, which will be available next year. Following in the footsteps of GM and other automakers, Ford’s sales increased significantly in the second quarter, albeit at a slower rate throughout the quarter due to low vehicle inventories caused by the chip shortage. “We saw inventories continue to shrink as the quarter progressed,” said Jessica Caldwell, executive director of Edmunds’ insights. “April shattered a lot of sales records as far as over 18 million,” she said. “Consumer demand is still robust, although inventory is a little short.” According to estimates, the June sales pace was around 15.5 million automobiles. The selling rate was expected to be between 15.7 million and 16.4 million vehicles, down from 17.1 million in May and 18.6 million in April. The monthly sales pace indicates how many automobiles the industry would sell in a year if it sold the same number of cars every month. It’s a key indicator of the strength of the industry and consumer demand. The chip shortage is wreaking havoc in the car industry in the United States. Toyota Motor Corporation surpassed General Motors as the best-selling automaker in the United States in the second quarter./n
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