Ford November Sales Crush Estimates, Up 5%

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Ford Motor Co. (NYSE: F) on Thursday reported a U.S. sales increase of 5% year over year in November to 197,574 Ford and Lincoln vehicles. That compared with November 2015 sales of 187,794. Truck sales rose 4.9% for the month, and sales of F Series pickups jumped 10.6%.

Total sales compare to an estimate of 188,450 by analysts at Kelley Blue Book (KBB) had estimated Ford’s November sales at 187,000 at an average transaction price of $38,488, down 1.2% month over month, and up 2.4% compared with November of last year. KBB transaction prices do not include applied consumer incentives.

The company said its overall average transaction prices rose $1,00 month over month. TrueCar estimated an average incentive of $$3,982 in November, down 1.9% month over month and up 23% year over year.

Sales of the Ford F-Series pickups rose 10.6% in November to 72,089 units. In October, Ford sold 65,542 F-Series trucks following a September sales total of 67,809. For the first 11 months of 2016, F-Series pickup sales are up 5.5% year over year.

Truck sales comprised about 44.6% of all Ford sales in November, and the F-Series pickups accounted for more than 36% of total November sales.

Sales of the company’s sport utility vehicles (SUVs) posted a year-over-year increase of 20.2% in November, and sales are up 4.3% for the year to date.

Edge sales improved by 32.2% in the month and are now 7.1% higher year to date. The Expedition saw a sales increase of 74.6% compared with November of 2015, and year-to-date Expedition sales are up 46%. Explorer sales rose 13.9% for the month but are down 4% year to date.

Sales of the Lincoln brand rose 19.1% year over year in November as sales of Lincoln cars skyrocketed 42.3% on sales of the all-new Lincoln Continental. Car sales totaled 4,049 units in the month and utility vehicle sales totaled 5,380 units. SUV sales rose 6.1% year over year in November and are up 5.7% for the year to date.

Ford’s stock traded up about 6% Thursday morning, at $12.68 in a 52-week range of $11.02 to $14.38.