UPDATE: Ford Motor (F) U.S. Light-Vehicles Sales Fell 11.9% in Oct., Wider than Expected

November 2, 2016 9:17 AM EDT

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(Updated - November 2, 2016 9:18 AM EDT)

Overall U.S. sales for Ford Motor (NYSE: F) were down 12 percent in October versus a year ago, with 188,813 vehicles sold.

(*** NOTE: The Street was looking for a drop of 11 percent.)

U.S. sales of Ford Transit were up 9 percent, with 10,202 vans sold. F-Series pickup sales increased 0.1 percent, with 65,542 trucks sold – the best October since 2004.

Ford is reporting sales today due to a fire Monday at its World Headquarters, which interrupted power to one of the company’s main data centers that the company and its dealers use to report and track sales. October reporting was extended to 8 p.m. EDT Tuesday, giving U.S. dealers an opportunity to report month-end sales.

October retail sales totaled 143,145 vehicles, down 7 percent. Fleet sales of 45,668 vehicles, including daily rental, commercial and government segments, were down 24 percent, driven primarily by front-loading daily rental deliveries this year, prioritizing Super Duty retail customers and pausing Transit Connect sales to address the previously announced door latch recall.

Lincoln sales totaled 9,069, a 7 percent increase. Retail sales were up 10 percent. Growth came from Lincoln’s new products, with total MKX up 4 percent, MKZ up 3 percent and all-new Continental sales of 1,222 vehicles.

Truck sales remained positive for Ford, with F-Series retail sales up 2 percent on strong Super Duty demand. High-end series Lariat, King Ranch and Platinum pickups represented 75 percent of retail sales. 2017 Super Duty was 36 percent of overall Super Duty retail sales in October.

“High customer demand for our new Super Duty, including top-trim-level pickups, continues to boost transaction prices,” said Mark LaNeve, vice president for U.S. Marketing, Sales and Service. “New Super Duty is turning on dealer lots in just 18 days, and Ford’s average transaction prices are up $1,600 versus a year ago – far outpacing the industry average of $600.”

Ford’s overall average transaction prices were up $800 versus September, while industry transaction prices were up $460 compared to September.

Overall incentive spending at Ford was up approximately $180 compared to year ago, versus an industry increase of $390. Compared to September, Ford’s overall incentive spend was down $570.

The company’s days’ supply for October was 90 days. Ford has been taking actions to match production with demand, as outlined during the company’s third quarter financial results and is well positioned for Black Friday and year-end sales events. The company’s fourth-quarter North American production guidance of 700,000 vehicles remains unchanged.

Gross Stock 2016 2016 2015

October

September

October

Passenger Car
Unit Volume 145,000 153,000 168,000
SUV
Unit Volume 190,000 184,000 152,000
Trucks
Unit Volume 315,000 314,000 302,000
Total
Unit Volume 650,000 651,000 622,000
Days' Supply 90 80 79
Fleet % of Total Sales 2016 2015

October

October

Daily Rental 7% 10%
Commercial 11% 12%
Government 6% 6%
Total 24% 28%

FORD MOTOR COMPANY OCTOBER 2016 U.S. SALES

October

%

Year-To-Date

%

2016

2015

Change

2016

2015

Change

SALES BY BRAND
Ford 179,744 205,453 -12.5 2,087,765 2,103,677 -0.8
Lincoln 9,069 8,485 6.9 89,504 82,449 8.6
Total Vehicles 188,813 213,938 -11.7 2,177,269 2,186,126 -0.4
SALES BY TYPE
Cars 44,925 61,924 -27.5 598,753 690,997 -13.3
SUVs 60,166 66,407 -9.4 701,420 676,417 3.7
Trucks 83,722 85,607 -2.2 877,096 818,712 7.1
Total Vehicles 188,813 213,938 -11.7 2,177,269 2,186,126 -0.4
FORD BRAND
Fiesta 3,381 3,618 -6.6 42,188 57,486 -26.6
Focus 9,368 16,423 -43.0 149,417 180,287 -17.1
C-MAX 969 1,607 -39.7 16,118 18,898 -14.7
Fusion 18,686 23,668 -21.0 229,148 255,143 -10.2
Taurus 2,287 2,803 -18.4 29,265 33,316 -12.2
Police Interceptor Sedan 792 845 -6.3 7,958 8,291 -4.0
Mustang 5,414 10,096 -46.4 92,672 106,321 -12.8
Ford Cars 40,897 59,060 -30.8 566,766 659,742 -14.1
Escape 23,505 24,719 -4.9 258,269 257,731 0.2
Edge 8,064 10,011 -19.4 111,140 105,720 5.1
Flex 1,066 1,409 -24.3 18,100 16,471 9.9
Explorer 16,106 18,748 -14.1 180,019 190,276 -5.4
Police Interceptor Utility 2,491 1,975 26.1 27,003 20,618 31.0
Expedition 3,893 3,924 -0.8 49,372 34,407 43.5
Ford SUVs 55,125 60,786 -9.3 643,903 625,223 3.0
F-Series 65,542 65,500 0.1 661,198 629,951 5.0
E-Series 4,592 4,036 13.8 44,787 43,072 4.0
Transit 10,202 9,361 9.0 122,809 95,446 28.7
Transit Connect 2,265 5,877 -61.5 36,018 42,704 -15.7
Heavy Trucks 1,121 833 34.6 12,284 7,539 62.9
Ford Trucks 83,722 85,607 -2.2 877,096 818,712 7.1
Ford Brand 179,744 205,453 -12.5 2,087,765 2,103,677 -0.8
LINCOLN BRAND
MKZ 2,481 2,406 3.1 25,343 25,369 -0.1
MKS 325 458 -29.0 4,647 5,886 -21.0
Continental 1,222 0 N/A 1,997 0 N/A
Lincoln Cars 4,028 2,864 40.6 31,987 31,255 2.3
MKC 1,916 1,982 -3.3 20,702 20,219 2.4
MKX 2,279 2,189 4.1 24,989 17,356 44.0
MKT 248 456 -45.6 3,192 3,865 -17.4
Navigator 598 994 -39.8 8,634 9,754 -11.5
Lincoln SUVs 5,041 5,621 -10.3 57,517 51,194 12.4
Lincoln Brand 9,069 8,485 6.9 89,504 82,449 8.6


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