Ford sales down 33% in August amid chip shortage
Average transaction price skyrockets to $50,800.
Ford Motor Company sales plummeted 33.1% in August compared to last year as it continues to deal with supply issues strangling the industry.
Ford brand sales were down 32.5%, with SUVs outperforming trucks, while Lincoln dropped 44.3%.
The performance was poorest of all the major automakers reporting for the month, including Honda (-15.6%) Subaru (-14.7%) Toyota (-2.0%) and Hyundai, which saw a gain of 2.4%.
General Motors and Stellantis follow a quarterly reporting schedule.
Ford said production and supplies improved compared to July, however, and that a shift toward more all-wheel-drive vehicles and higher-end trims drove average transaction prices to $50,800, up $9,700 from last year.
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Its key F-Series trucks also saw month-over-month growth from 52,314 to 57,321, but the currently reduced production rate at the plants that build the F-150 has been extended through the week of September 6.