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Ford Motor Co. s sales were down 14.1% year-over-year in February, an already-slow sales month that likely was dragged down further by winter storms, a major parts shortage and the still-raging pandemic.
The Blue Oval on Wednesday reported total U.S. sales of 163,520 new vehicles last month, down from 190,225 in February 2020 the last normal sales month before the novel coronavirus pandemic widely hit the U.S. Ford s retail sales, however, were down only 1.8% year-over-year.
Industry analysts had expected a relatively strong sales month for autos in February, but Cox Automotive reported Wednesday that the estimated monthly sales pace of 15.7 million came in below its forecast, which it attributed largely to the winter weather that hampered sales in many parts of the country. Last February, the seasonally-adjusted annual rate of sales was 16.8 million.
Cox Automotive February 2021 Forecast: U.S. Auto Sales Remain Relatively Strong Despite Challenges
ATLANTA, Feb. 23, 2021 February sales when reported next week are expected to show a relatively strong vehicle market in the U.S., though slowing from January s robust post-holidays pace. The seasonally adjusted annual rate (SAAR) of sales this month is forecast by Cox Automotive to be near 16.3 million, down from January s 16.6 million level and below last year s 16.8 million. However, given ongoing pandemic turmoil and related job losses, coupled with the big freeze in Texas, results could have been much worse.
February is normally one of the slowest sales months in a given year, as many consumers pull back in spending following the year-end shopping season, and adverse winter weather often suppresses vehicle shopping in many parts of the country. This year, weather will play a bigger-than-normal role, as the deep freeze that impacted markets as far south as Houston disrupted mi