Ford Motor Co., still feeling the effects of a pandemic-induced production shutdown early in the year amid a major overhaul of its vehicle lineup, reported U.S. new-vehicle sales were down 9.8% in the fourth quarter of 2020 and down 15.6% for the year.
The results in part reflect the ongoing changeover to the new model year of the Blue Oval's best-selling, profit-rich F-150 pickup truck; the redesigned 2021 model is currently being delivered to dealerships. For the quarter, Ford's truck sales were down 12.5%; F-150 sales were off by 32.7%, the automaker reported.
Beginning of some real bad news that our leadership team is unprepared to address.