Coronavirus drags US Ford sales down 12.5% in first quarter
Passenger car sales fell 36%
(Reuters) - Ford Motor Corp on Thursday posted a 12.5% fall in U.S. auto sales for the first quarter, as production halts and social distancing in the face of the coronavirus pandemic stalled demand across the auto industry.
The No.2. U.S. automaker sold 516,330 vehicles in the country in the quarter, down from 590,249 a year earlier.
"Our Ford team is working around the clock on everything from building healthcare equipment, assisting our dealership network and providing our customers peace of mind through deferred vehicle payments," the company said.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| F | FORD MOTOR CO. | 10.80 | +0.07 | +0.65% |
Ford's passenger car sales fell 36%, while sports utility vehicle sales dropped 11% in the quarter.
FORD BOOSTS CORONAVIRUS MEDICAL SUPPLY PRODUCTION TO AID WORKERS IN HOTSPOTS
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Maju Samuel)
GET FOX BUSINESS ON THE GO BY CLICKING HERE