F-Series Sales Can’t Prop Up Ford May Sales
Ford on Wednesday reported a U.S. sales decrease of 6% in May, even though sales of best-selling F-Series pickups rose 9%.
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Ford Motor Co. (NYSE: F) on Wednesday reported a U.S. sales decrease of 6% in May to 235,997 Ford and Lincoln vehicles, compared with May 2015 sales of 250,813. Truck sales rose 8.9% for the month, and sales of F-Series pickups rose 9%.
Total sales compare to an estimate of 242,771 by analysts at Edmunds.com. Kelley Blue Book (KBB) estimated Ford’s May sales at 233,000 at an average transaction price of $36,900, down 1.6% month over month and up 5.1% compared with May of last year. KBB transaction prices do not include applied consumer incentives.
Sales of the Ford F-Series pickups rose 9% in May to 67,412. In April, Ford sold 70,774 F-Series trucks following a March sales total of 73,884. Ford’s streak of selling at least 70,000 F-Series pickups ended at two months.
Truck sales comprised about 38% of all Ford sales in May, and the F-Series pickups accounted for about 41% of total sales in April.
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Sales of the company’s sport utility vehicles (SUVs) posted a year-to-date gain of 9% in May. Escape sales rose 5.5% but Edge sales tumbled 14%. The Expedition saw a sales increase of 21.9%, and Explorer sales fell 4.8% year over year.
Sales of the all-new Transit utility van totaled 13,640 units in May, up 16.4% month over month and up 40.7% year to date.
Sales of the Lincoln brand rose 6.9% year over year in May as sales of Lincoln utility vehicles rose by 16%. Car sales totaled 3,702 units in the month and utility vehicle sales totaled 6,105 units. Car sales fell 5.3% year over year.
The stock traded down about 3.4% Wednesday morning, at $13.02 in a 52-week range of $10.44 to $15.84.
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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.
