Ford Motor Co. (NYSE: F) on Thursday reported a U.S. sales increase of 1.2% year over year in May, to 241,126 Ford and Lincoln vehicles, compared with May 2016 sales of 235,997. Passenger car sales fell 10% in the month of May.
Truck sales rose 9.4% for the month, and sales of F-Series pickups soared by 12.8%. Retail sales dropped 0.2% in May to 158,282 and fleet sales rose 8.4% to 82,844 units.
Total sales compare to an estimate of 232,000 by analysts Kelley Blue Book (KBB), which also estimated an average transaction price of $38,428, up 5% year over year and down 1.1% compared with April’s average selling price. KBB transaction prices do not include applied consumer incentives.
The company said its overall average transaction prices rose $2,100 year over year.
Sales of the Ford F-Series pickups rose 12.8% year over year in May to 76,027 units, the best May sales in 13 years. In April Ford sold 70,657 F-Series trucks, following a March sales total of 81,330.
Truck sales comprised just over 41% of all Ford-brand sales in May, and the F-Series pickups accounted for nearly 32% of total May sales.
Sales of the company’s sport utility vehicles (SUVs) posted a year-over-year increase of 4.3% in May.
Ford Fiesta sales fell 32% year over year, and only the company’s Taurus passenger car posted a year-over-year gain. Fusion sales were down 12.1% and Mustang sales fell 23.5% year over year.
Sales of the Lincoln brand rose 4.9% year over year in May as sales of Lincoln cars rose 4.6%, primarily on sales strength for the all-new Lincoln Continental. Car sales totaled 3,874 units in the month and utility vehicle sales totaled 6,414 units. SUV sales rose 5.1% year over year in May.
Ford’s stock traded up about 2.5% about 30 minutes after Tuesday’s opening bell at $11.40. The 52-week range is $10.67 to $14.04, and the 12-month consensus price target is $12.94 according to MarketWatch.
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
