Ford has had one rollercoaster of a year. The company introduced new electric vehicles that consumers are excited about. It also experienced production issues due to the global semiconductor chip shortage. This August, Ford sales have dropped by 33% because of the chip shortage.
Global semiconductor chip shortage is ruining Ford sales
Ford is an American staple. The Ford F-150 is one of the best-selling vehicles on the market. The American automaker can usually rely on its flagship vehicles to bolster rough sales quarters. This August, however, sales plummeted for Ford’s entire lineup because of the dire supply issue.
According to CNBC, Ford’s sales have dipped drastically toward the end of the summer. Not only is supply low, but prices of new and used vehicles are sky-high. It’s a tough spot to be in for both the automaker and the consumer who is looking to purchase a Ford vehicle.
The new Ford Mustang Mach-E electric SUV was enjoying stellar sales until August. Now sales have slowed, and the electric SUV’s growth as a top-performing model is essentially stunted. This is a setback for Ford and electric vehicles because Ford was the perfect entry point for many consumers who were skeptical about EVs.
The Ford Mustang Mach-E is the future of Ford SUVs. It was supposed to enjoy great sales and eventually build up even more anticipation for its next model year. Instead, many consumers won’t be able to purchase the Mach-E in a timely manner, so they’ll pass on the opportunity to try out Ford’s new EV.
What about the Ford F-150 Lightning?
The Ford F-150 Lightning is the truck that shocked the world. Pre-orders soared past 100,000 in a short period of time. The F-150 Lightning introduced the idea of an electric F-150 that could do everything a work truck can while bringing some amazing exclusive new features to the table.
The problem is, the Ford F-150 Lightning is experiencing major setbacks due to the semiconductor chip shortage. Consumers may receive their orders much later than expected. Anticipation could easily turn into contempt after an extended waiting period. Ford has produced two amazing new EVs. The question is, can the automaker get them to all the consumers that want them in the midst of a major supply issue?
How much longer will Ford sales suffer from the global semiconductor chip shortage?
Experts predict that the global semiconductor chip shortage could last for a very long time. Factories are being built to produce the chips but they won’t just spring up overnight. It seems like Ford sales will continue to suffer along with the rest of the automotive industry for the foreseeable future.
The worst part of this supply issue is that there is no quick solution or end in sight. For now, the American automaker will have to roll with the punches as Ford sales take major hits. The global semiconductor chip shortage isn’t good for anyone hoping to buy a vehicle anytime soon. Ford has tempted consumers with amazing new EVs, but just how long will people wait to buy them before resenting the brand.