Ford August Sales Fall, But Market Share Grows
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Ford Motor Co. (NYSE: F) said Wednesday that its sales in August fell 11 percent from last year, due to the "Cash for Clunkers" program a year ago that brought buyers into showrooms to take advantage of government rebates.
The company said that its market share has grown for the 22nd time in 23 months, as its Ford, Lincoln and Mercury brands delivered 157,503 vehicles in August.
Ford said that the Focus and the Escape both showed significant declines from last year as the two models were largely popular during the Cash for Clunkers program. Focus sales were down 40 percent to 15,446, while the Escape saw a 29 percent drop to 14,838.
Sales of the company’s Taurus full-size sedan rose 51 percent to 5,122, while the F-Series truck lineup saw sales grow 5 percent to 47,652.
"Ford continues to outperform the overall industry," said Ken Czubay, Ford vice president, U.S. Marketing, Sales and Service. "In this market, consumers are looking for vehicles that offer industry-leading quality, fuel economy, safety and technologies, and growing numbers of them are turning to Ford."
The company said that plans to produce 570,000 vehicles in the fourth quarter, which is slightly down from 574,000 in the same quarter last year.
"The Ford plan is to match capacity with the real demand, and we continue to monitor the key economic indicators as we make adjustments," Czubay said.
Shares of Ford are up 3.06 percent to $11.63 in midday market movement on Wednesday.
The company said that its market share has grown for the 22nd time in 23 months, as its Ford, Lincoln and Mercury brands delivered 157,503 vehicles in August.
Ford said that the Focus and the Escape both showed significant declines from last year as the two models were largely popular during the Cash for Clunkers program. Focus sales were down 40 percent to 15,446, while the Escape saw a 29 percent drop to 14,838.
Sales of the company’s Taurus full-size sedan rose 51 percent to 5,122, while the F-Series truck lineup saw sales grow 5 percent to 47,652.
"Ford continues to outperform the overall industry," said Ken Czubay, Ford vice president, U.S. Marketing, Sales and Service. "In this market, consumers are looking for vehicles that offer industry-leading quality, fuel economy, safety and technologies, and growing numbers of them are turning to Ford."
The company said that plans to produce 570,000 vehicles in the fourth quarter, which is slightly down from 574,000 in the same quarter last year.
"The Ford plan is to match capacity with the real demand, and we continue to monitor the key economic indicators as we make adjustments," Czubay said.
Shares of Ford are up 3.06 percent to $11.63 in midday market movement on Wednesday.
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