[cnxvideo id=”655414″ placement=”ros”]Ford Motor Co. (NYSE: F) on Wednesday reported a U.S. sales decrease of 0.6% year-over-year in January, to 172,612 Ford and Lincoln vehicles, compared with January 2016 sales of 173,723. Ford Truck sales rose 5.5% for the month, and sales of F Series pickups increased by 12.5%. Retail sales rose 6% in January to 120,400.
Total sales compare to an estimate of 169,000 by analysts Kelley Blue Book (KBB), who also estimated an average transaction price of $38,373, down 2% year over year in sales and down 1.1% compared with December’s average selling price. KBB transaction prices do not include applied consumer incentives.
The company said its overall average transaction prices rose $2,500 year over year.
Sales of the Ford F-Series pickups rose 12.5% year over year in January to 57,995 units. In December Ford sold 87,512 F-Series trucks, following a November sales total of 72,089.
Truck sales comprised about 42% of all Ford sales in January, and the F-Series pickups accounted for about 33% of total January sales.
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Sales of the company’s sport utility vehicles (SUVs) posted a year-over-year increase of 6% in January.
Ford Fiesta sales rose nearly 40% year over year, but it was the only passenger car model to post a gain. Mustang sales fell 33% and Focus sales fell 26%.
Sales of the Lincoln brand rose 22.4% year over year in January, as sales of Lincoln cars jumped 31.9% on sales of the all-new Lincoln Continental. Car sales totaled 3,277 units in the month and utility vehicle sales totaled 5,508 units. SUV sales rose 17.4% year over year in January.
Higher-than-expected sales and a higher average selling price were good news for Ford.
Ford’s stock traded up about 1.2% early Wednesday to $12.51, but it fell into the red by midday. The 52-week range is $11.02 to $14.22, and the 12-month consensus price target is $13.00.
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