Ford October Sales Up 6% Led by F-Series Pickup

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Ford Motor Co. (NYSE: F) on Wednesday reported a U.S. sales increase of 6.2% year over year to 200,436 Ford and Lincoln vehicles in October, compared with October 2016 sales of 188,813. Passenger car sales fell 2.4% in the month of October, while sport utility vehicle (SUV) sales rose 5.3%.

Truck sales rose 11.1% for the month, and sales of F-Series pickups increased by 15.9%. Total retail sales rose 3.5% year over year in October to 148,105 units and fleet sales jumped 14.6% to 52,331 units, again due to order timing.

Total sales compare to an estimate of 195,000 by analysts at Kelley Blue Book (KBB), who also estimated an average transaction price of $39,593, up 1.5% year over year and up 1% compared with September’s average selling price of $39,215. KBB transaction prices do not include applied consumer incentives.

Sales of the Ford F-Series pickups rose 15.9% year over year to 75,974 units in October, and F-Series transaction prices rose $4,000 year over year to $47,300.

Truck sales comprised 46.5% of all Ford-brand sales in October, and the F-Series pickups accounted for almost 38% of total monthly sales.

Ford Mustang sales fell by 3.3% year over year. Fiesta sales rose 1.1% and Fusion sales fell 6.2% year over year.

Sales of the Lincoln brand slipped by 1.8% year over year in October as sales of Lincoln cars tumbled 20.4%. Car sales totaled 3,207 units in the month and utility vehicle sales totaled 5,702 units. SUV sales rose 13.1% year over year in October.

Ford reported 72 days of total inventory, flat compared with September and down from 79 in October of last year. Dealer stock totaled 60 days of supply, again flat with September and down from 65 last year.

Ford’s stock traded up about 1% early Wednesday at $12.40 a share. The 52-week trading range is $10.47 to $13.27, and the 12-month consensus price target is $12.67.