Along with all other automakers, Ford Motor (NYSE: F) sales plunged 12.5% compared to last year. A number greater than General Motors’ and Fiat Chrysler’s losses but still below the 15% drop anticipated in the overall Industry. Amid the Coronavirus pandemic, only ⅓ of all dealerships remain open to the public, although they may continue to sell online.
March had brought in the largest sales in previous years, with many companies offering multiple discounts to buyers. Unfortunately due to the stay-at-home or shelter-in-place orders in effect, dealers have been undoubtedly compromised.
“Looking at the quarter, it started out really well,” said Mark LaNeve, Ford vice president of U.S. marketing, sales, and service. “March was actually going really good until the 10th, … and then as we started getting states going to shelter-in-place, then we started feeling a much more profound impact.”
Ford’s F-series pickup has been one of America’s best-selling vehicles for decades but sales of the automobile decreased by 13.1% in the first quarter. In contrast to a 27.3% surge for GM’s full-size pickups and about a 7% rise in Fiat Chrysler’s Ram pickup.
LaNeve insists that the fall is due to a “huge decrease” in sales to rental companies as well as the fact that both GM and Fiat hold larger incentives for their trucks.
“We feel like we maintained a really healthy lead with F-Series, and we’re well-positioned from an inventory standpoint for what spring market may be out there in Q2,” he said.