Ford (F) Shares Jump as March Sales Surged 19%
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Shares of Ford (NYSE: F) are rallying midday Friday following the release of its U.S. retail sales report for March.
The Detroit-based automaker posted a 19 percent rise in total vehicle sales, from 178,546 units during the same month last year to 204,276 last month.
Ford's figures were boosted by strong sales of the Fiesta, Fusion, Escape and Explorer. The Fiesta, Fusion and Escape each set monthly sales records during March, up 56 percent, 21 percent and 25 percent month-over-month, respectively. The Explorer saw sales rise a sharp 111 percent from the same month last year, as the company recently introduced a remodeled design.
"With gasoline prices eclipsing $3.50 a gallon, consumers are placing a high priority on fuel efficiency in every size and kind of vehicle," said Ken Czubay, Ford VP of U.S. Marketing, Sales and Service. "Customers are rewarding Ford for our investment in new products as well as more efficient engines and transmissions, which save them money at the pump whether they drive Fiestas or F-Series trucks."
For the first quarter, Ford said total sales rose 16 percent to 496,720.
The Detroit-based automaker posted a 19 percent rise in total vehicle sales, from 178,546 units during the same month last year to 204,276 last month.
Ford's figures were boosted by strong sales of the Fiesta, Fusion, Escape and Explorer. The Fiesta, Fusion and Escape each set monthly sales records during March, up 56 percent, 21 percent and 25 percent month-over-month, respectively. The Explorer saw sales rise a sharp 111 percent from the same month last year, as the company recently introduced a remodeled design.
"With gasoline prices eclipsing $3.50 a gallon, consumers are placing a high priority on fuel efficiency in every size and kind of vehicle," said Ken Czubay, Ford VP of U.S. Marketing, Sales and Service. "Customers are rewarding Ford for our investment in new products as well as more efficient engines and transmissions, which save them money at the pump whether they drive Fiestas or F-Series trucks."
For the first quarter, Ford said total sales rose 16 percent to 496,720.
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