Ford UK is facing a fresh wave of bad news after it reported sales in the UK fell to just 4,300 vehicles, the lowest in the company’s history.
The UK company’s quarterly results were released on Friday and revealed sales in August fell 7.2 per cent on a year-on-year basis.
It’s a dramatic fall from the 9,000 vehicles it reported in September, but the UK-based company said the fall was caused by a combination of a number of factors including the “preliminary introduction of the UK’s first ever hybrid vehicle” and “an increase in the volume of overseas orders”.
However, it’s not the first time the car company has seen a decline in sales.
In June, it reported its UK sales fell by 1.2 million vehicles, in the same month that it announced it would introduce a plug-in hybrid model for UK buyers.
“The UK’s vehicle market is one of the largest in the world, with demand for Ford vehicles exceeding demand for any other vehicle,” the company said at the time.
“However, due to an uncertain economic environment, the company is in need of additional funds to ensure it can continue to meet its current financial position.”
As a result, we have decided to make a further reduction in vehicle sales in line with our long-term strategy.
“The company also reported a drop in vehicle production in the first quarter of 2019.
Ford has been struggling to meet a £1.6bn (£1.2bn) budget shortfall, with analysts blaming the company for a shortage of vehicles to meet demand.
However, the latest figures suggest the company has managed to improve sales.
In its earnings report, Ford revealed it had recorded a sales of 2,876,000 vehicle units in the six months to the end of August.
That’s down from 3,917,000 units in August and 2,993,000 in July.
However, the total number of sales for the six-month period rose by 1,000.
The company said it also benefited from an increase in car-making orders, with a total of 632,000 orders, which came from the UK, US, Japan and China.
Ford’s shares fell 2 per cent to £7.55 in morning trading, with the company predicting it will record sales of 1.5 million vehicles this year.