Ford reports 7% drop in US auto sales in 2021

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(Reuters) -Ford Motor Co on Wednesday reported a 6.8% drop in U.S. vehicle sales in 2021, as the automaker struggled to deliver its cars and trucks due to bottlenecks persistent supply chain and global chip shortage.

The Detroit automaker sold 1,905,955 vehicles in 2021, falling behind new US leader Toyota Motor Corp and rival General Motors Co. Ford had sold 2,044,744 vehicles a year earlier.

Ford shares extended losses to trade down about 3% after the sell report.

Total U.S. light-duty vehicle sales for 2021 were just under 15 million, according to Wards Intelligence, below the five-year average of 17.3 million from 2015 to 2019.

Ford’s Mustang Mach-E electric crossover sales totaled 27,140 for 2021. The company plans to triple annual production of the electric crossover to over 200,000 by 2023, to meet better-than-expected demand .

Ford focused on its EV strategy and said on Tuesday it would nearly double the annual production capacity of its burning F-150 Lightning electric pickup to 150,000 vehicles.

Ford shares gained about 136% in 2021, outpacing GM’s 40.8% rise and electric vehicle leader Tesla Inc’s 49.7% jump, as investors bet buyers will buy the electric version. of the F-150.

(Reporting by Nathan Gomes and Aishwarya Nair in Bengaluru; Editing by Sriraj Kalluvila)

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