Ford posts 7% fall in 2021 U.S. auto sales By Reuters

© Reuters. FILE PHOTO: The trfx foreign exchange is how nowFord logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid

(Reuters) -Ford Motor Co reported a 6.8% fall in 2021 U.S. vehicle sales on Wednesday, as the automaker struggled to deliver its cars and trucks due to lingering supply-chain bottlenecks and a global chip shortage.

The Detroit automaker sold 1,905,955 vehicles in 2021, ending up behind new U.S. leader Toyota Motor (NYSE:TM) Corp and rival General Motors Co (NYSE:GM). Ford had sold 2,044,744 vehicles a year earlier.

Total U.S. light vehicle sales for 2021 were just under 15 million, according to Wards Intelligence, below the five-year average of 17.3 million from 2015 to 2019.

Sales of Ford's Mustang Mach-E electric crossover came in at 27,140 for 2021. The company plans to triple the annual production of the electric crossover to more than 200,000 by 2023, to meet better-than-anticipated demand.

Ford has been sharpening focus on its electric vehicle strategy and said on Tuesday it would nearly double annual production capacity for its red-hot F-150 Lightning electric pickup to 150,000 vehicles.

Its shares recovered from early weakness to trade 1% higher on Wednesday at their highest level since 2001.

They gained 136% in 2021, outperforming GM's 40.8% rise and EV leader Tesla (NASDAQ:TSLA) Inc's 49.7% jump, as investors bet buyers will lap up the electric version of the F-150.

"I think there’s optimism with GM as well, especially compared to pre-2021, but lately Ford is enjoying the better sentiment" due to its aggressive electrification strategy, Morningstar Research analyst David Whiston said.

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!