Ford Motor Co. (NYSE: F) on Friday reported a U.S. sales increase of 6.7% year over year in November, to 210,771 Ford and Lincoln vehicles, compared with November 2016 sales of 197,574. Passenger car sales rose 2% in the month and sport utility vehicle (SUV) sales rose 13.3%.
Truck sales rose 4.1% for the month, and sales of F-Series pickups increased by 0.9%. Total retail sales rose 1.3% year over year in November to 156,064 units and fleet sales jumped 25.9% to 54,707 units.
Total sales compare to an estimate of 200,000 by analysts Kelley Blue Book (KBB), who also estimated an average transaction price of $40,423, up 2.8% year over year and 1.2% higher compared with October’s average selling price of $39,939. KBB transaction prices do not include applied consumer incentives.
Sales of the Ford F-Series pickups rose just 0.9% year over year in November to 72,769 units, and F-Series transaction prices rose $3,800 year over year to $47,100.
Truck sales comprised 43.5% of all Ford-brand sales in November, and the F-Series pickups accounted for 34.5% of total monthly sales.
Total Ford SUV sales rose 13.4% year over year, with the Explorer seeing a gain of nearly 25% and the Edge gaining nearly 23%.
Ford Mustang sales rose by 8.5% year over year. Fiesta sales rose 6.6% and Fusion sales fell 15.1% year over year. Ford’s Focus brand sales jumped 44.9% to 13,266 units.
Sales of the Lincoln brand slipped by 5.5% year over year in November as sales of Lincoln cars tumbled 29.3%. Car sales totaled 2,862 units in the month and utility vehicle sales totaled 6,047 units. SUV sales rose 12.4% year over year.
Ford reported 78 days of total inventory, down from 79 in October and from 83 in November of last year. Dealer stock totaled 62 days of supply, down from 65 days in October and from 69 last year.
Ford’s stock traded up about 0.8% shortly after Friday’s opening bell to $12.62. The 52-week range is $10.47 to $13.27 and the 12-month consensus price target is $12.71.
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