Razorbak86

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Overall August Sales Highlights
  • Overall sales down 33.1% (year-over-year from August 2020)
  • EV sales up 67.3%
  • Average transaction pricing hit a new record of approximately $50,800 per vehicle (+$9,700 over last year).
  • Ford retail sales grow 6.5% from last month due to production
    and inventory improvements
  • 41,000 new retail orders, up 4-fold
  • F-Series has best performance since semiconductor chip shortage began, up 11% from July
  • F-150 Lightning tops 130,000 reservations
Bronco Sales & Production Highlights
  • August sales of Bronco and Bronco Sport were up 69.1 percent relative to July with total sales of 9,428.
  • Ford’s overall AWD/4WD mix of SUVs in August was 73.0 percent, representing a new record.
  • With the addition of Bronco and higher-content SUVs, Ford’s SUV transaction pricing in August hit a record of $41,700 per SUV, up $6,200 over last year.
  • Bronco Sales (August): 2,730 vehicles; Bronco Sales (YTD): 6,808 vehicles
  • Bronco Production (August): 8,243 vehicles; Bronco Sales (YTD): 21,623 vehicles
August Sales Summary

Ford August 2021 Sales Summary.jpg


August 2021 Sales

Ford August 2021 Sales.jpg


August 2021 Inventory

Ford August 2021 Gross Stocks.jpg


August 2021 Production

Ford August 2021 Production.jpg
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vrtical

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They will spin it but it was better then GM / Fiat...
 

BossMann

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Automotive stocks are a short term nightmare IMO... I'd get out now, buy back in a quarter or two. I think long term the rebound is inevitable.
 

RG7

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Am I a complete idiot or do those numbers indicate there are 15,000 Broncos either in transit, on lots, not delivered or waiting on parts?
 

TripleB

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So there's 14,815 Broncos not sold/delivered...... That's a lot of bad hard tops.....
 

Ylekiot

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If they have sold 7k, have 4-5k units as demo, and have produced 21k there are LOTS of Broncos sitting, not just the 3k estimated on Dirt mountain. Where are they?
 

XCR440

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Scary part is Ford keeps spinning it as things are improving, but our allocation for next month was basically nothing, so its not improving. Last I heard an automotive chip plant in Malaysia shut down due to covid, so the hits keep coming.

There is even some concern Ford could loose best selling pickup to Ram this year due to lack of production.
 

PowPow

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i assume mannequins are considered sales? since the dealerships are allowed to sell them after the predetermined requirements?
 
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Razorbak86

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Barrons: New Car Sales Were Dreadful. Why Car Stocks Win Either Way.
By Dow Jones & Company, Inc.
— 9:50 AM ET 09/02/2021

Al Root

August light-vehicles sales missed estimates -- badly. The number is a surprise, but the reasons behind it aren't.

U.S. car sales--expressed as an annualized selling rate-- came in at 13.1 million for August, far below estimates for 14.5 million units. The number comes out from industry data providers late on the first or second day of each month, after all the individual companies have released numbers.

Car stocks aren't reacting though. General Motors stock was unchanged in Thursday premarket trading, as was Ford Motor stock.

The stocks didn't do anything because the reasons for the weak sales are widely known: high prices and no inventory. Both are a function of the global semiconductor shortage that is constraining global auto production. But even when the shortage ends, other factors likely can help boost car stocks instead.

The shortage has been with investors -- and the industry -- all year. It was supposed to be getting better in the second half of 2021, but car companies, including Tesla (TSLA), are taking plant downtime while they wait for parts.

U.S. dealers have about 23 days of inventory on lots. That's down by about 27 days year over year, according to Deutsche Bank analyst Emmanuel Rosner, and that's a big reason prices are up. "The positive pricing and incentive trends are a sign that underlying demand remains strong," Benchmark analyst Mike Ward tells Barron's. Strong pricing is a positive and a big reason that both Ford and GM reported better-than-expected second-quarter numbers.

Investors shouldn't forget the price paid at the dealership goes to the dealer, and the price paid by the dealer is what GM and Ford receive. A lack of purchase incentives and discounts, however, is one of the factors boosting realized pricing for car makers.

But high pricing has limits. Morgan Stanley analyst Adam Jonas raised the possibility of a buyers' strike due to pricing. "Very low inventory is [clearly] a factor," wrote Jonas in a Thursday report. "But what about nosebleed-above MSRP pricing for....vehicles."

MSRP stands for manufacturer's suggested retail price. Customers are having to pay more than that to get a car. Jonas believes customers might be waiting until prices fall.

A buyers' strike would mean there is some pent-up demand for new cars in the U.S., which also can benefit car stocks. Eventually when production normalizes, prices can come down and volume can help boost profits.

New car sales annualized at about 17 million in the first half of 2021. That's down to about 14 million in the second half so far. That 3 million car gap might not be lost -- those purchases might just be pushed into 2022 and 2023.

Car stocks also aren't reacting to the Wednesday figure because the lingering semiconductor shortage is a long- known issue. GM stock has declined 14% over the past month. Ford shares fell 6%. The S&P 500 and Dow Jones Industrial Average rose 3% and 1%, respectively.

GM seems to have kicked off the downward move. The company gave weak guidance for second-half 2021 earnings when reporting its second-quarter numbers. Once again, a lack of chips is a big reason.
Write to Al Root at [email protected]

(END) Dow Jones Newswires
09-02-21 0950ET
Copyright (c) 2021 Dow Jones & Company, Inc.
 

PowPow

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So there's 14,815 Broncos not sold/delivered...... That's a lot of bad hard tops.....
well, when did they start producing production broncos? June? So that eliminates 1,819 right there. Those were those Broncos we saw early on that were used for testing, etc...

Also, August ended 2 days ago. So of the approximately 8k produced in august, probably half of that are still in transit and not yet sold. (maybe even more)

so, not that it's much better, but that eliminates probably 6k bronoco's from that 14k number... leaving about 8k. I'm sure there's a few other thousand not sold for various other reasons.

disclaimer... i know nothing! and this is all based on speculation & assumptions!
 

Bob 07064

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i assume mannequins are considered sales? since the dealerships are allowed to sell them after the predetermined requirements?
for the factory, once vehicles are produced dealers kinda buy the vehicles from the factory for below msrp. they, like us finance them, then they mark them up and sell them.
since dealers are franchises they are held to certain contractual obligations like demo and mannequins sales limitations.
 
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