Ford Motor Co. reported a 26.9% drop in its June US sales compared with the same month a year ago, reflecting the automaker has experienced a global shortage of semiconductor chips.
Ford’s results on Friday come a day after most crucial automakers reported their US sales, with results indicating a slowing in the intense pace the industry had experienced earlier in the year.
Ford also stated this week that the shortage of chips will push the car company towards reducing or eliminating production at over half a dozen US factories in July, including its pickup truck factories and an SUV factory in Chicago.
Ford’s US sales increased 9.5% for the second quarter compared with the April-to-June period in 2020. That is still a more modest gain than competitors General Motors Co. and Jeep-makers Steliantis NV., Which reported second-quarter gains of 40% and 32% respectively.
The shares of Ford slid 4 cents to $14.88 in morning trading.