Ford July Sales Sink 3%, Pickup Sales Slip 1%
Ford on Tuesday reported a U.S. sales year-on-year decrease of 3% in July. Sales of F Series pickups fell 1% in that time.
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Ford Motor Co. (NYSE: F) on Tuesday reported a U.S. sales decrease of 3% in July to 216,479 Ford and Lincoln vehicles, compared with July 2015 sales of 222,731. Truck sales rose 4.8% for the month, and sales of F Series pickups fell 1%.
Total sales compare to an estimate of 218,000 by analysts at Edmunds.com. Kelley Blue Book (KBB) estimated Ford’s July sales at 223,000 at an average transaction price of $39,057, down 0.1% month over month and up 2.2% compared with July of last year. KBB transaction prices do not include applied consumer incentives.
Sales of the Ford F-Series pickups fell 1% in July to 65,657 units. In June, Ford sold 70,937 F-Series trucks, following a May sales total of 67,412. For the first seven months of 2016, F-Series pickup sales are up 8.8%.
Truck sales comprised just over 40% of all Ford sales in June, and the F-Series pickups accounted for more than 30% of total sales in July.
Sales of the company’s sport utility vehicles (SUVs) posted a year-over-year decline of 5.3% in July, although sales are up 6.4% for the year to date.
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Edge sales increased 4.9% in the month and are 10.8% higher year to date. The Expedition saw a sales increase of 118.4% compared with July of 2015, and year to date Expedition sales are up 42.9%. Explorer sales fell 22.2% for the month and are down 1.5% year to date.
Sales of the all-new Transit utility van totaled 11,335 units in July, up 41.2% compared with July 2015 and up 36.8% year to date to a total of 89,815 units
Sales of the Lincoln brand fell 4.6% year over year in July, as sales of Lincoln utility vehicles fell by 8.4%. Car sales totaled 3,281 units in the month and utility vehicle sales totaled 5,817 units. Car sales rose 3% year over year in July but are down 3.8% for the year to date.
Ford’s stock traded down more than 3% shortly after Tuesday’s opening bell, at $12.06 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.
