Ford Motor Co.'s U.S. light-vehicle sales rose 3.3 percent in December on improving supply, but full-year sales fell 2.2 percent in 2022 as the automaker continued to struggle with inventory issues fueled by parts shortages.
Ford said it gained 0.7 percentage points in total market share for 2022, partially offsetting the 1.3 percentage point drop it recorded in 2021 during the onset of the global microchip shortage. The full-year sales decline was less than the 6.8 percent drop Ford experienced a year ago.
The automaker was aided by a strong close to the year, particularly for the profitable F-Series pickups. Ford said the vehicle line ended 2022 with its best monthly sales performance of the year as it retained the title as the nation's bestselling vehicle line. For the full year, however, F-Series sales fell 10 percent.
Ford says the vehicle line is well positioned in 2023, pointing to strong orders for the recently revealed redesigned Super Duty.
Ford said it remained the nation's No. 2 seller of electric vehicles behind Tesla Inc. Ford's EV sales more than doubled to 61,575 last year thanks to the launch of the F-150 Lightning and E-Transit, which lead their respective light-truck segments.
Sales at the Lincoln luxury brand jumped 17 percent in December on improving crossover and SUV supply but finished the year down 4 percent.
Brands (Dec.) : Ford, up 2.7%; Lincoln, up 17%.
Brands (2022): Ford, down 2.1%; Lincoln, down 4%
Notable nameplates (Dec.): F-Series, up 20%; Explorer, down 5.5%; Mustang, off 15%; Bronco, up 14%; Mustang Mach-E, up 103%; Lincoln Corsair, up 39%; Aviator, up 1%.
Notable nameplates (2022): F-Series, down 10%; Explorer, off 7.8%; Mustang, down 9.2%; Bronco, up 234%; Mustang Mach-E, up 45%; Lincoln Corsair, up 21%; Aviator, up 5%.
U.S. light-vehicle market share: 13.3 percent in 2022, up from 12.6 percent in 2021.
Incentives (Dec.): $1,227 per vehicle, down 49% from a year earlier, TrueCar says.
Average transaction price (Dec.): $55,652, up 11% from a year earlier, according to TrueCar.
Inventory: 398,000 gross stock in December, up from 247,000 in December 2021
Quote: "Much was accomplished in 2022, with Ford increasing its share of the industry by 0.7 percentage points," Andrew Frick, vice president of sales, distribution and trucks at Ford Blue, said in a statement. "Delivering on our strategy, share expansion came from broad-based growth from our SUV lineup and our all-new EVs growing at twice the rate of the overall EV segment. F-Series was America's best-selling truck for the 46th consecutive year, outselling our second-place competitor by over 140,000 trucks, and the Bronco family of vehicles increased 51.3 percent. With a strong retail order bank, Ford is well positioned heading into 2023."
Did you know? 2022 was the worst sales year for the F-Series since 2012, when 645,316 F-Series trucks were sold, according to the Automotive News Research & Data Center.
