Ford (F) Shares Move Lower as May Auto Sales Flat
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Shares of Ford (NYSE: F) dipped in mid-day trade Wednesday following disappointing US sales data for the month of May.
Ford reported total sales of 192,102, about flat form a year ago. Retail sales for the month were up 5 percent while fleet sales were down 8 percent.
On a year-to-date basis, total sales were up 12 percent to 878,600. Retail sales were up 14 percent and fleet sales were up 8 percent.
Fiesta and Focus accounted for 29,423 total sales, up 74 percent year-over-year.
Fusion sales totaled 24,666, up 10 percent year-over-year.
Sales of the Lincoln MKZ were 2,523, up 24 percent year-over-year. The MKZ Hybrid accounted for 22 percent of sales.
Lincoln MKS sales totaled 908, down 42 percent year-over-year.
Escape sales totaled 23,140, up 21 percent. 50 percent of customers purchased the vehicle with a 4-cylinder.
Lincoln Town Car sales for May totaled 1,223, up 9 percent year-over-year.
Lincoln MKX sales totaled 1,734 in May, up 2 percent year-over-year.
Explorer sales totaled 13,318, up 135 percent year-over-year and year-to-date sales totaled 55,401, up 120 percent.
Lincoln Navigator sales totaled 612, down 2 percent year-over-year.
Lincoln MKT sales totaled 399 in May, down 44 percent year-over-year.
Ford’s F-Series truck remained the best-selling vehicle in the U.S. with May sales of 42,399, down 15 percent year-over-year and year-to-date sales of 214,461, up 11 percent. The new 3.5-liter EcoBoost engine accounted for 41 percent of F-150 retail sales in May. More F-150s were purchased with a V6 than a V8.
The company is maintaining its previous production guidance in its North American assembly plants of 710,000 vehicles in the second quarter. Ford announced plans to produce 630,000 vehicles in the third quarter, up 44,000 or 8 percent versus third quarter 2010.
"Customers increasingly are demanding new products that deliver compelling fuel economy," said Ken Czubay, Ford vice president, U.S. Marketing, Sales and Service. "Ford’s new fuel-efficient products and powertrains arrived at the right time – just as fuel efficiency became even more of a consideration among consumers."
Ford reported total sales of 192,102, about flat form a year ago. Retail sales for the month were up 5 percent while fleet sales were down 8 percent.
On a year-to-date basis, total sales were up 12 percent to 878,600. Retail sales were up 14 percent and fleet sales were up 8 percent.
Fiesta and Focus accounted for 29,423 total sales, up 74 percent year-over-year.
Fusion sales totaled 24,666, up 10 percent year-over-year.
Sales of the Lincoln MKZ were 2,523, up 24 percent year-over-year. The MKZ Hybrid accounted for 22 percent of sales.
Lincoln MKS sales totaled 908, down 42 percent year-over-year.
Escape sales totaled 23,140, up 21 percent. 50 percent of customers purchased the vehicle with a 4-cylinder.
Lincoln Town Car sales for May totaled 1,223, up 9 percent year-over-year.
Lincoln MKX sales totaled 1,734 in May, up 2 percent year-over-year.
Explorer sales totaled 13,318, up 135 percent year-over-year and year-to-date sales totaled 55,401, up 120 percent.
Lincoln Navigator sales totaled 612, down 2 percent year-over-year.
Lincoln MKT sales totaled 399 in May, down 44 percent year-over-year.
Ford’s F-Series truck remained the best-selling vehicle in the U.S. with May sales of 42,399, down 15 percent year-over-year and year-to-date sales of 214,461, up 11 percent. The new 3.5-liter EcoBoost engine accounted for 41 percent of F-150 retail sales in May. More F-150s were purchased with a V6 than a V8.
The company is maintaining its previous production guidance in its North American assembly plants of 710,000 vehicles in the second quarter. Ford announced plans to produce 630,000 vehicles in the third quarter, up 44,000 or 8 percent versus third quarter 2010.
"Customers increasingly are demanding new products that deliver compelling fuel economy," said Ken Czubay, Ford vice president, U.S. Marketing, Sales and Service. "Ford’s new fuel-efficient products and powertrains arrived at the right time – just as fuel efficiency became even more of a consideration among consumers."
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