Ford September Sales Up 9% on Strong Pickup Sales

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Ford Motor Co. (NYSE: F) on Tuesday reported a U.S. sales increase of 8.7% year over year in September, to 222,248 Ford and Lincoln vehicles, compared with September 2016 sales of 204,447. Passenger car sales fell 1.3% in the month of September, while sport utility vehicle (SUV) sales rose 1.8%.

Truck sales rose 19.9% for the month, and sales of F-Series pickups increased by 21.4%. Total retail sales rose 4.4% year over year in September to 169,544 units, and fleet sales jumped 25.2% to 52,704 units due to order timing.

Total sales compare to an estimate of 209,000 by analysts Kelley Blue Book (KBB) who also estimated an average transaction price of $38,919, up 0.6% year over year and down 0.2% compared with August’s average selling price of $38,992. KBB transaction prices do not include applied consumer incentives.

Sales of the Ford F-Series pickups rose 21.4% year over year in September to 82,302 units, and F-Series transaction prices rose $2,300 year over year. September 2017 is only the second time in company history that F-Series have topped 80,000 for the month.

Truck sales comprised 46.6% of all Ford-brand sales in September, and the F-Series pickups accounted for 37% of total monthly sales.

Ford Mustang sales fell by 9.1 year over year. Fiesta sales were down 11.8%, and Fusion sales rose 3.3% year over year.

Sales of the Lincoln brand ticked up 0.1% year over year in September as sales of Lincoln cars slipped 16.2%. Car sales totaled 2,900 units in the month and utility vehicle sales totaled 5,902 units. SUV sales rose 10.6% year over year in July.

Ford reported 72 days of total inventory, down from 81 in August and 80 in September of last year. Dealer stock totaled 60 days of supply, down from 67 in August and 66 last year.

Ford’s stock traded up more than 2% early Tuesday at $12.36. The 52-week trading range is $10.47 to $13.27, and the 12-month consensus price target is $11.91