Ford U.S. sales fall 10.9 percent in June
Ford Motor Co said on Wednesday that U.S. sales fell 10.9 percent in June for all of its brands, at the top of its expectations for the only U.S. automaker not supported by emergency government loans.
Ford sales fell to 155,195 vehicles in June, from 174,091 vehicles a year earlier. For its Ford, Lincoln and Mercury brands, sales fell 11.3 percent to 148,153 vehicles.
Volvo sales rose 0.6 percent to 7,042 vehicles in June from a year earlier.
In the Ford, Lincoln, Mercury brands, car sales fell 17 percent from a year earlier, crossover sales fell 4.3 percent, SUV sales fell 20.4 percent and truck and van sales fell 6.9 percent, Ford said.
Ford expected to post a sales decline in the 10 to 20 percent range in June. It also expects U.S. auto industry sales to be down in the 25 to 30 percent range.
The automaker said on Monday it had increased planned third-quarter production in North America by 5.4 percent to 485,000 vehicles from its initial production plan of 460,000 vehicles.
Ford produced 418,000 vehicles in the third quarter of 2008 and the increase in quarterly production on a year-over-year basis is the first for the automaker in two years.
U.S. rivals General Motors Corp and Chrysler have curtailed production sharply to work through their bankruptcy sale programs.
Ford said it ended June with 343,000 vehicles in inventory, or about a 60-days' supply. That figure was down 214,000 from a year ago.
Ford shares were up 11 cents, or 1.81 percent, at $6.18 on Wednesday on the New York Stock Exchange.
(Reporting by David Bailey, editing by Matthew Lewis)
© Copyright Thomson Reuters 2024. All rights reserved.