Ford reports decline in U.S. sales in November By Investing.com

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<span>© Reuters. Ford (F) reports decline in U.S. sales in November</span><br />
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<p>Ford Motor (NYSE:) reported Monday a 0.5% decrease in U.S. new vehicle sales for November. This decline comes as the Detroit automaker is focused on resuming operations in crucial plants following a prolonged workers’ strike, impacting overall vehicle production.</p>
<p>In late October, Ford successfully negotiated a resolution with the United Auto Workers (UAW) union, concluding a strike that lasted for over a month and is estimated to incur a cost of $1.7 billion for the company.</p>
<p>The previous month, in October, sales had also dropped by 5.3%. However, analysts noted that the Detroit Three automakers had stockpiled inventory in anticipation of the strike’s impact.</p>
<p>Ford’s CFO John Lawler mentioned in October, the complexity involved in restarting the plants following the deal, a deal that UAW workers officially approved in November.</p>
<p>By November, the automaker confirmed that all the impacted plants had been successfully restarted.</p>
<p>Ford announced on Monday that sales of its electric vehicles surged by 43.2% to 8,958 units compared to the previous year. However, sales of its trucks experienced a slight decline, slipping by 2.8% to 78,971 units during the same period.</p>
<p>Overall, the company reported a total of 145,559 vehicles sold in November, slightly lower compared to the 146,364 units sold during the same period last year.</p>
<p>Shares of F are up 1.80% in mid-day trading on Monday.</p>
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<br /><a href="https://www.investing.com/news/stock-market-news/ford-reports-decline-in-us-sales-in-november-432SI-3249024">Source link </a></p><p>The post <a href="https://forextraderhub.com/ford-reports-decline-in-u-s-sales-in-november-by-investing-com.html">Ford reports decline in U.S. sales in November By Investing.com</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>