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The Ford F-Series continued its decades long U.S. sales dominance in 2022 despite ongoing parts and supply chain problems, the company said.
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The 2022 sales make for an average of at least one F-Series Truck sold every 49 seconds last year.
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Still, F-Series sales are expected to come in lower than in recent years.
Ford Motor reported sales of its F-Series, which includes the F-150 pickup and its larger siblings, surpassed 640,000 trucks last year – making it America’s bestselling truck for 46 consecutive years and bestselling vehicle for 41 years.
Despite topping the sales charts, F-Series sales are expected to come in lower than in recent years. Sales of the truck were off nearly 13% through November compared with a year earlier, however Ford said last month’s sales are anticipated to be the best of 2022 for the F-Series.
Ford sold 726,004 F-Series trucks in 2021, which was a 7.8% decline from more than 787,400 vehicles in 2020. Before the pandemic, the company had been selling about 900,000 of the trucks annually.
There are fears on Wall Street that the most profitable days for automakers such as Ford may be behind them amid higher interest rates, falling used vehicle prices and a normalization of sales mix away from fully loaded models.
Wells Fargo analyst Colin Langan highlighted such challenges — and a renewed emphasis on Ford’s monthly sales reports — in a note to investors on Tuesday citing negative catalysts for the automaker.
Ford is set to report its total year-end sales today, a day after other major automakers are expected to release results. Souce: CNBC
Ford vs GM
While the F-Series nameplate has led the sales charts for decades, Ford has not been the bestselling automaker of full-size pickup trucks in recent years. That title has gone to General Motors, which sells two full-size pickups.
GM sells the higher-priced GMC Sierra alongside the Chevy Silverado. Combined sales of both pickups outnumbered Ford and other rivals through the third quarter.
GM spokesman Jim Cain downplayed the F-Series rankings, saying the company is well positioned to capture full-size truck sales leadership for a third consecutive year.
Is Ford worth a closer look?
Ford’s classic F-Series of pickup trucks has been America’s bestselling vehicle for 4 decades, continuing production throughout parts shortages in recent years, even partially building vehicles for a later completion date. By the end of 2021, its new electric F-150 Lightning had 200,000 reservations with a 3-year backlog.
Ford has a strong brand and a long history of operation, with a diverse product lineup that includes both traditional internal combustion engines and electric and autonomous vehicles. The company has a global presence, with operations in various regions around the world.
However, the automotive industry is facing several challenges, including increasing competition, changing consumer preferences, and the need to invest in new technologies such as electric and autonomous vehicles. These factors may impact the company’s financial performance and may make it more difficult to generate consistent profits.
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