Key Moments
- Ford’s U.S. third-quarter sales decreased 6.6% to 509,764 vehicles.
- Truck deliveries, including F-series models, inched up 0.5% to 315,112 units.
- Maverick pickup sales, supported by a hybrid offering, climbed a little over 20% to 41,970 units.
Model Phase-Out Weighs on Quarterly Performance
Ford reported that its U.S. sales for the third quarter fell 6.6%, attributing the decline in part to the phase-out of its Escape and Lincoln Corsair crossover models. The company detailed the performance on Friday, noting that the discontinuation of these vehicles pressured overall volumes for the period.
Shifting Consumer Demand Amid High Fuel and Living Costs
Consumers have been contending with elevated gasoline prices following the U.S.-Iran war, alongside rising expenses for essentials such as groceries and insurance. These pressures have pushed some buyers away from more fuel-hungry engines and toward hybrid options.
Regular gasoline averaged $4.43 per gallon nationally in September, compared with $3.20 a gallon a year earlier, according to industry group AAA.
Reflecting this environment, Ford executives told Reuters on Friday, “We are definitely seeing more demand on the hybrid powertrain, including on the F-150.”
Competitive Landscape and Segment Performance
Ford’s overall sales decline aligns with trends at other Detroit-based automakers, which have also faced increased competition from Asian manufacturers such as Toyota and Honda, whose lineups feature a larger share of hybrid models.
Despite the overall drop, Ford’s truck segment, which includes its flagship F-series line, posted modest growth. Quarterly truck sales rose 0.5% year-over-year to 315,112 units.
| Category | Metric | Result |
|---|---|---|
| Overall U.S. Q3 sales | Change vs. prior year | -6.6% |
| Overall U.S. Q3 sales | Total units | 509,764 |
| Truck sales (incl. F-series) | Change vs. prior year | +0.5% |
| Truck sales (incl. F-series) | Total units | 315,112 |
| Maverick pickup | Change vs. prior year | a little over 20% |
| Maverick pickup | Total units | 41,970 |
Hybrid-Driven Bright Spot: Maverick Pickup
The Maverick pickup truck, which is available with a hybrid powertrain, continued to gain traction with buyers. Sales of the Maverick increased a little over 20% to 41,970 units, providing a notable positive offset within Ford’s portfolio.
Affordability Pressures Persist Despite Easier Financing
Even as auto loan rates have moved lower, affordability remains a significant hurdle for many customers. Higher vehicle prices combined with weaker trade-in values have pushed monthly payments upward.
The average transaction price for a new vehicle rose 1.9% to $50,089 in August, according to industry expert Cox Automotive, underscoring the ongoing cost challenges facing buyers.
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