Ford Motor Co. (NYSE: F) on Thursday reported January sales fell 6.6% year over year to 161,143 Ford and Lincoln vehicles, compared with January 2017 sales of 172,612. Passenger car sales fell 23.3% in the month and sport utility vehicle (SUV) sales fell 5.9%.
Truck sales rose 2.2% for the month, and sales of F-Series pickups increased by 1.6%. Total retail sales fell 4.3% year over year in January to 115,187 units, and fleet sales plunged 12% to 45,956 units.
Total monthly sales compare to an estimate of 205,000 by analysts Kelley Blue Book (KBB), who also estimated an average transaction price of $40,156, up 1.8% year over year and down 1.9% compared with December’s average selling price of $40,922. KBB transaction prices do not include applied consumer incentives.
Sales of the Ford F-Series pickups rose 1.6% year over year in January to 58,937 units, and F-Series transaction prices rose $1,400 year over year to $47,800.
Truck sales comprised 46% of all Ford-brand sales in January and the F-Series pickups accounted for nearly 37% of total monthly sales.
Total Ford SUV sales fell by 4.4% year over year in January, with the Escape seeing a drop of 8% and Expedition a drop of 15.4%.
Passenger car sales dropped by 22%, with sales of Fusion down 33.3% and Focus down 31%.
Sales of the Lincoln brand slipped by 27% in January as sales of Lincoln cars plummeted 39.2%. Car sales totaled 1,991 units in the month and utility vehicle sales totaled 4,419 units. SUV sales fell 19.8% year over year in January.
Ford reported 108 days of total inventory, up from 68 in December and up from 95 in January of last year. Dealer stock totaled 86 days of supply, up from 56 days in December and up from 78 last year.
Ford’s stock traded down about 0.4% shortly after Wednesday’s opening bell at $10.93. The 52-week range is $10.47 to $13.48 and the 12-month consensus price target is $12.47.