Ford (F) Reports Decline in June Sales; Comments on First Half 2008 Sales

July 1, 2008 12:09 PM EDT

Overall, June sales of Ford (NYSE: F), Lincoln and Mercury vehicles totaled 167,090, down 28% versus a year ago. First half sales totaled 1.1 million, down 14%.

In the first half of 2008, sales of Ford, Lincoln and Mercury cars and crossovers to retail customers were higher than a year ago. Retail sales for cars increased 3% and crossovers also were up (less than 1%). Together, cars and crossovers accounted for 59% of Ford's first half retail sales compared with 49% in the first half 2007.

"In the first half, Ford outperformed the industry in both the car and crossover segments," said Jim Farley, Ford group vice president, Marketing and Communications. "This performance is crucial to creating an exciting viable Ford delivering profitable growth for all."

Ford's new Focus paced the increase in car sales. In the first half, Focus retail sales increased 53% versus a year ago, and Focus was the top-selling domestic car to retail customers.

Mid-size cars also posted retail sales increases in the first half with Ford Fusion up 7%, Mercury Milan up 2% and Lincoln MKZ up 10%. The Ford Edge paced crossovers with first half retail sales up 19%.

In the first half, retail sales for the company's SUVs declined 40% versus a year ago and retail sales for trucks and vans declined 31%.

"Consumer fundamentals and consumer confidence deteriorated as the first half unfolded," said Farley. "The economy enters the second half of the year with a notable absence of momentum and a high degree of uncertainty."[SM]

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