Ford's Surprise Sales Gain in August Fueled by SUVs, F-Series
(Bloomberg) -- Ford Motor Co. reported a 4.1 percent increase in light-vehicle sales in August, beating the average estimate for a decline of 0.8 percent. The company’s F-Series pickups continued to be popular with consumers, while SUVs like the Expedition also provided a lift.
- A 15 percent jump in sales to fleet customers played a big part in Ford’s better-than-expected month, but retail deliveries also rose.
- The Mustang had a very good month with sales up more than 35 percent. That bucks the long-standing trend of sinking sales of passenger cars for Ford and its rivals.
- Unlike trucks and SUVs, Ford’s car sales fell 21 percent in August bringing the decline for the year to 16 percent. Among the Dearborn, Michigan-based company’s biggest losers: the Fusion sedan, which saw sales plunge by more than a third last month.
Ford climbed 0.5 percent to $9.53. The shares are down 24 percent this year.
|Ford August U.S. light-vehicle sales rose 4.1% y/y, est. down 0.8%.|
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