Ford Motor Co. (NYSE: F) on Friday reported a U.S. sales decline of 2.1% year over year in August, to 209,897 Ford and Lincoln vehicles, compared with August 2016 sales of 214,482. Passenger car sales fell 8.6% in the month of August, a sharp improvement over July’s drop of more than 19%.
Truck sales rose 9.3% for the month, and sales of F Series pickups increased by 15%. Retail sales were down 2.7% year over year in August at 164,067 units, and fleet sales fell 0.2% to 45,830 units.
Total sales compare to an estimate of 206,000 by analysts Kelley Blue Book (KBB), who also estimated an average transaction price of $38,559, up 1.2% year over year and up 0.7% compared with July’s average selling price of $38,305. KBB transaction prices do not include applied consumer incentives.
Sales of the Ford F-Series pickups rose 15% year over year in August to 77,007 units, and F-Series transaction prices rose $3,400 year over year to $45,600 per vehicle. In July, Ford sold 69,467 F-Series trucks, following a June sales total of 77,895.
Truck sales comprised 46% of all Ford-brand sales in August, and the F-Series pickups accounted for about 37% of total monthly sales.
Sales of the company’s sport utility vehicles (SUVs) posted a year-over-year decrease of 11.3% in August.
Ford Mustang sales fell by a third year over year. Fiesta sales were down 14.1%, and Fusion sales fell 8.8%.
Sales of the Lincoln brand fell by 5.8% year over year in August as sales of Lincoln cars slipped 2.2%. Car sales totaled 3,012 units in the month and utility vehicle sales totaled 5,696 units. SUV sales fell 7.6% year over year in July.
Ford’s stock traded up about 2.8% shortly after Friday’s opening bell at $11.33. The 52-week range is $10.47 to $13.27, and the 12-month consensus price target is $12.16.
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