Ford US sales fall 6.6% in Q3 as models phased out

Key facts

• Ford's third-quarter sales in the U.S. declined 6.6% to 509,764 units.
• The decrease in sales was attributed to the phasing out of the Escape and Lincoln Corsair models.
• Demand for hybrid powertrains, including in the F-150, has increased.
• Sales of Ford's trucks, including the F-series, rose 0.5% to 315,112 units.
• Sales of the Maverick pickup truck increased by over 20% to 41,970 units.

Ford's third-quarter sales in the U.S. fell 6.6% to 509,764 units, a decline attributed to the automaker phasing out its Escape and Lincoln Corsair crossover models. Executives noted a significant increase in demand for hybrid powertrains, including in the F-150, as consumers navigate high gasoline prices and affordability challenges.

Despite the overall dip, sales of Ford's trucks, including the flagship F-series, saw a modest increase of 0.5% to 315,112 units. The affordable Maverick pickup truck, offered with a hybrid powertrain, experienced a sales jump of over 20%, reaching 41,970 units.

The automotive industry is facing competition from Asian automakers with strong hybrid offerings, and consumers are increasingly seeking fuel-efficient vehicles. Regular gasoline prices have reached a national average of $4.43 a gallon, up from $3.20 a year prior, according to AAA. Affordability remains a concern for buyers, with higher vehicle prices and lower trade-in values pushing monthly payments upward, despite a slight decline in auto loan rates.