Ford February Sales Up 20% on SUVs, Pickups
Ford Motor on Tuesday reported a U.S. sales increase of 20% year over year in February, topping Kelley Blue Book estimates.
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Ford Motor Co. (NYSE: F) on Tuesday reported a U.S. sales increase of 20% year over year in February, to 217,192 Ford and Lincoln vehicles, compared with February 2015 sales of 180,383. Truck sales rose 14.8% for the month, and sales of F-150 pickups rose by nearly 10%.
Total sales compare to an estimate of 202,000 by analysts at Kelley Blue Book (KBB). The industry research firm also reported that Ford’s average transaction price in February was $36,520, up 0.4% month over month and up 2.6% compared with February of last year. KBB transaction prices do not include applied consumer incentives.
Sales of the Ford F-Series pickups rose 9.9% in February to 60,697. In January Ford sold 50,540 F-Series trucks, following a December sales total of 85,211.
Truck sales comprised about 37% of all Ford sales in February, and the F-Series pickups accounted for about 28% of total sales in February. Both totals are a few points below the January percentages.
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Where Ford saw its biggest sales boost for the month was in sport utility vehicle (SUV) sales. Both the Ford Escape and Explorer posted double-digit year-over-year sales increases. Escape sales rose 14.1% and Explorer sales were up 17.5%. The Expedition saw a sales increase of 26.1%, but that only accounted for total sales of 3,984 units. Sales of Ford utility vehicles, including SUVs but not pickups, are up 28.4% year over year.
Sales of the all-new Transit and Transit Connect totaled 14,534 units in February, up 70.3% and 8.9%, respectively, year over year.
Sales of the Lincoln brand rose 30.4% year over year in February as sales of Lincoln utility vehicles rose by 40.9%. Car sales totaled 2,727 units in the month and utility vehicle sales totaled 5,312 units. Car sales rose 14% year over year.
The stock traded up more than 3% Tuesday morning, at $12.97 in a 52-week range of $10.44 to $16.74.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
