Ford Motor (F) – Get Report reported a sales decline of 12.5% for the first quarter.
The company sold 516,330 vehicles in the quarter, led by 263,757 trucks and 189,720 SUVs. Truck sales dropped 5.4% and SUVs declined 11%.
Sedans, of which Ford has been gradually ceasing production for two years, fell 36% to 62,853 vehicles.
The coronavirus pandemic hit the company’s sales in March, the company said.
“Our dealers and employees have jumped into action to support healthcare workers, their communities and millions of our customers,” Vice President of U.S. Marketing, Sales and Service Mark LaNeve said in a statement.
The company “is working around the clock on everything from building health-care equipment, assisting our dealership network and providing our customers peace of mind through deferred vehicle payments.”
.Ford’s F-Series line of trucks began the year as the best-selling vehicle in the U.S. with 186,562 vehicles sold. That figure is down 13% from a year earlier, but Ford said the drop reflects the “timing of our fleet sales and weaker retail sales in March due to coronavirus.”
Meanwhile, the company’s Explorer SUV was the country’s bestselling midsize SUV with sales of 56,310 vehicles.
At last check Ford shares were trading 1% higher at $4.44.
General Motors (GM) – Get Report reported a 7% decline in first-quarter sales