Ford reports 10.5% sales drop due to chip shortage

As the global semiconductor chip shortage continued to curtail auto production and drag down sales across the industry, Ford Motor Co. on Wednesday reported a 10.5% year-over-year decline in U.S. sales in April.

The automaker sold 176,965 vehicles last month. Meanwhile, competitors including American Honda Motor Co., Toyota Motor North America and Hyundai Motor Co. earlier this week reported their sales fell in April, as well, as the industry continues to battle nagging supply-chain issues.

Still, Ford noted that it picked up a percentage point in U.S. market share last month as it saw its inventory flow to dealers improve.