Ford sales slide 11.7% in October
The second biggest car-maker in the US, Ford Motor, has reported a fall of 11.7% in vehicle sales in October compared with the same period last year.
Ford Motor Co.
$11.01
11:09 15/11/24
Ford, which is part of the "Big Three" Detroit car-makers, sold 188,813 vehicles during the month, a decline that had largely been predicted by industry experts.
Representatives from Ford, Fiat Chrysler and General Motors have all commented that the industry had reached a peak in 2015, and would experience declines towards the latter end of 2016.
After a particularly high early part of 2016 for its fleet sales, those numbers declined by a massive 24% to 45,668 for the month.
Car sales were also negatively affected as consumers opt for larger vehicles brought on by low fuel prices. A 27.5% decline in car sales saw the total number sold drop to 44,925.
Overall auto sales in the US fell by 4.4% for October.
Ford's rivals reported their monthly sales on Tuesday, but its own announcement was delayed due to a fire in its headquarters of Dearborn, Michigan on Monday.