Ford F-Series Pickup Sales Fall as Quality Checks Slow Rollout [BNN Bloomberg (Canada)]
Ford Motor Company (F)
Last ford motor company earnings: 4/28 04:09 pm
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Source: BNN Bloomberg
Sales of the F-Series, Ford's biggest moneymaker, declined 6.1% in the April-to-June period and are down 8% this year. It was the model's third straight quarterly decline. Ford held about 60,000 redesigned F-150s in the first quarter for extra quality checks, which Chief Executive Officer Jim Farley said helped the new truck avoid 12 recalls. “We saw better F-Series sales in Q2 as we continue to roll out F-150, which gave us a 30% increase over Q1,” Said Deep, a company spokesman, wrote in an email. “We had a lot of F-150 in transit” to dealers. “We expect that growth to continue into Q3.” The F-Series has an outsized influence over Ford's overall sales, with the nearly 200,000 trucks it sold in the second quarter accounting for 37% of the automaker's total vehicle deliveries. Ford's overall sales rose 1% in the second quarter. Farley is on a push to improve quality and reduce warranty repair costs that hit $4.8 billion last year. Holding the F-150s “hurt our first quarter,”
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