Ford April Sales Down Nearly 5% Year Over Year

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Ford Motor Co. (NYSE: F) on Tuesday reported that April sales were down 4.7% year over year to 204,651 Ford and Lincoln vehicles. That compares with April 2017 sales of 214,695. Passenger car sales fell 15% in the month and sport utility vehicles sales dipped 4.6%.

Truck sales rose a scant 0.9% for the month, though sales of F-Series pickups increased by 3.5% to 73,104 units. Total retail sales fell 2.6% year over year in April to 137,049 units, and fleet sales dropped 8.6% to 67,602 units.

Total monthly sales compare to an estimate of 198,000 by analysts Cox Automotive.  Kelley Blue Book estimated an average transaction price of $39,906, up 2.1% year over year and 0.7% higher compared with March’s average selling price of $39,649. KBB transaction prices do not include applied consumer incentives.

Ford said its average transaction price for the month was $36,300. The company said April average transaction pricing on its F-Series pickups rose $900 from the reported average of $46,800 in March.

Truck sales comprised 45.1% of April sales, and the F-Series pickups accounted for 35.7% of total monthly sales. Given Ford’s recently announced decision to focus on truck and SUV sales going forward, these numbers should start growing even more.

Total Ford SUV sales slipped by 4.6% year over year in April with lower sales posted for every model. Explorer sales dipped 9.5% and Expedition sales dropped 22.3%.

Passenger car sales were 15% lower year over year, with sales of Fusion down 22.9% and Fiesta down 5.3%. Taurus sales dropped 18.3%.

Sales of the Lincoln brand slipped by 12.1% year over year in April as sales of Lincoln cars plunged 30.5%. Car sales totaled 2,559 units in the month and utility vehicle sales totaled 5,959 units. SUV sales dipped 0.8% year over year in April.

Ford reported 86 days of total inventory, up from 82 in March and from 83 in April of last year. Dealer stock totaled 68 days of supply, up from 66 days in March and down from 72 days last year.

Ford’s stock traded up about 0.2% Tuesday morning at $11.26. The 52-week range is $10.14 to $13.48, and the 12-month consensus price target is $12.34.

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