Ford August Sales Sink 8%, Better Outcome Than Expected
Ford Motor Co. (NYSE: F) on Tuesday reported a U.S. sales decrease of 8.4% year-over-year in August, to 214,482 Ford and Lincoln vehicles, compared with August 2015 sales of 234,237. Truck sales fell 1.6% for the month, and sales of F Series pickups fell 6.1%.
The good news for Ford is that the bad news was better than analysts expected. Total sales compare to an estimate of nearly 211,000 by analysts at Edmunds.com. Kelley Blue Book (KBB) estimated Ford’s August sales at 218,000 at an average transaction price of $37,689, down 0.2% month over month, as well as up 2.6% compared with August of last year. KBB transaction prices do not include applied consumer incentives.
Sales of the Ford F-Series pickups fell 6.1% in August to 66,946 units. In July Ford sold 65,657 F-Series trucks, following a June sales total of 67,412. For the first seven months of 2016, F-Series pickup sales are up 6.7% year over year.
Truck sales comprised more than 41% of all Ford sales in August, and the F-Series pickups accounted for more than 31% of total August sales.
Sales of the company’s sport utility vehicles (SUVs) posted a year-over-year decline of 0.8% in August, although sales are up 6.2% for the year to date.
Edge sales decreased 5.3% in the month and are now 8.6% higher year to date. The Expedition saw a sales increase of 68.3% compared with August of 2015, and, year to date, Expedition sales are up 46.1%. Explorer sales fell 15.5% for the month and are down 3.5% year to date.
Sales of the all-new Transit utility van totaled 11,993 units in August, up 16.9% compared with August 2015 and up 34.1% year to date to a total of 101,808 units
Sales of the Lincoln brand rose 7% year over year in August as sales of Lincoln utility vehicles jumped 11.8%. Car sales totaled 3,079 units in the month and utility vehicle sales totaled 6,164 units. Car sales slipped 1.4% year over year in August, and are down 3.5% for the year to date.
Ford’s stock traded down about 1.5% mid-morning Thursday, at $12.42 in a 52-week range of $11.02 to $15.84.