Ford Motor Co. (NYSE: F) on Tuesday reported June sales rose 1.2% year over year to 230,635 Ford and Lincoln vehicles, compared with June 2017 sales of 227,979. Passenger car sales fell 14% in the month, while sport utility vehicle (SUV) sales rose 8.9%. For the first half of the year, total sales are down 1.8%. Only truck sales are up for the year to date.
Total retail sales rose 2.9% year over year in June to 156,788 units and fleet sales fell 2.3% to 73,847 units. Truck sales rose 3.2% for the month, and sales of F-Series pickups increased by 1.7% to 79,204 units.
Total monthly sales compare to an estimate of 225,000 by analysts Cox Automotive. Kelley Blue Book estimated an average transaction price of $39,916, up 3% year over year and up 0.2% compared with May’s average selling price of $39,839. Kelley Blue Book transaction prices do not include applied consumer incentives.
Ford said its average transaction price for the month rose $540. F-Series transaction prices rose to $46,800.
Truck sales comprised 43.6% of June sales and the F-Series pickups accounted for 34.3% of total monthly sales.
Total Ford SUV sales rose by 8.9% year over year in June with the Explorer seeing a decrease of 9.4%, and the Edge a decrease of 11.8%. Expedition (up 10.1%), Flex (up 15.4%), and Escape (up 6.4%) posted year-over-year sales gains in June.
Passenger car sales dropped by 14% year over year with sales of Fusion down 13.6% and Fiesta up 19.2%. Focus sales dropped 30%.
Sales of the Lincoln brand rose by 2.8% year over year in June as sales of Lincoln cars dropped 26.6%. Car sales totaled 2,370 units in the month and utility vehicle sales totaled 9,534 units. SUV sales rose 18.5% year over year in July.
Ford reported 78 days of total inventory, up from 73 in May but down from 79 in June of last year. Dealer stock totaled 62 days of supply, up from 61 days in May and down from 66 last year.
Ford’s stock traded down about 0.8% Tuesday morning at $11.02. The 52-week range is $10.14 to $13.48 and the 12-month consensus price target is $12.45.
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