It was not supposed to happen like this. The Ford Motor Co. (NYSE: F) F-Series pickup, which is the best-selling car or light truck in America, was supposed to hold that lead, and therefore its market share, even while some consumers wait for a new version with an aluminum body. That version will be in showrooms almost immediately. However, month by month, the Dodge Ram continues to post surging results, chipping away at the F-Series position at the top of the full-sized pickup segment. October was no exception.
Chrysler’s Dodge Ram sales reached 39,834 in October, up 33.5% from the same month last year. Sales of the number two pickup in the market, General Motors Co.’s (NYSE GM) Chevy Silverado, posted an increase of 10.1% to 46,966. The F-Series sold more than either, at 63,410, but sales were down 0.6% from last year.
The growth of sales for the three was not very different for the first 10 months. Ram sales rose 22.9% to 359,702. Silverado sales rose 6.4% to 429,119. And F-Series sales dropped 0.5% to 620,447.
Ford has not been able to give a convincing reason why the aluminum F-Series will bring new customers — or bring back old customers. The aluminum body shaves over 500 pounds off the truck. That means better gas mileage, which should save drivers money. On the drawing board, it makes sense.
What does not make sense is that an aluminum truck will sell better than a steel one, when the steel one has good fuel economy. For example, the Dodge Ram version with a 3.0 L, ecodiesel V6 gets 28 miles per gallon on the highway. And Dodge is practically giving the Ram away with current incentives as high as $4,700 for a truck that has a base price of $25,060. The Silverado’s mileage is slightly worse at 23 miles per gallon in highway driving. One of its lower priced models, the 2014 Silverado Double Cab All-Star Edition, carries incentives as high as $9,000.
The Ford F-Series faces what could be a market skeptical about an aluminum truck, as well as worthy competition that offers large discounts to bring in customers. If Ford stumbles, the advance the Ram has made will continue into 2015.
ALSO READ: Ford October Auto Sales Better Than Expected, but Still Weak
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
