Cars and Drivers
Ford Pickup Sales at Highest Level in 15 Years
Published:
Last Updated:
Ford Motor Co. (NYSE: F) on Thursday reported first-quarter sales fell by 1.6% year over year to 590,249 Ford and Lincoln vehicles, compared with first-quarter 2018 sales of 599,581. Passenger car sales fell 23.7% in the month while truck sales rose by 4.1% and sport utility vehicle sales rose 5.0%.
Sales of F-Series pickups rose by 0.2% to 214,611 units to average more than 70,000 per month. The all-new Ranger accounted for 9,421 units in the quarter, lifting the company’s total pickup sales to the highest level in 15 years.
Ford-brand passenger car sales tumbled 24.1% in the first quarter and Lincoln-brand sales fell 16.6%. More than nine of 10 first-quarter sales came from SUVs, vans and trucks. Average transaction pricing for the F-Series rose to $47,454.
Total monthly sales compare to an estimate of 596,794 by analysts at Cox Automotive. Kelley Blue Book estimated an average transaction price for all vehicles of $41,574, up 5.3% year over year but down 0.8% compared with February’s average selling price of $41,905. Kelley Blue Book transaction prices do not include applied consumer incentives.
F-Series sales accounted for more than 36% of the company’s total sales for the quarter.
Total Ford SUV sales were up 5% year over year in the quarter, with Expedition sales up 61.9% to 21,773 and Explorer sales down by 1.5% to 53,306 units. The company’s best-selling SUV, the Escape, posted sales of 60,702 units in the quarter, down 9.9% year over year.
First-quarter Fusion sales of Fusion dropped 3.5% year over year and Focus sales fell 70.5%. Mustang sales dipped by 11.7% to 16,917 units, while Fiesta sales rose 29.6% to 15,943 units.
Sales of the Lincoln brand rose by 11.2% year over year in the first quarter as sales of Lincoln cars dropped by 16.6%. Car sales totaled 5,642 units in the quarter and SUV sales totaled 19,333 units, up by 23.2% year over year. Navigator sales rose 10% to 4,469 units.
Ford’s stock traded up about 1.5% Thursday morning to $9.27. The stock’s 52-week range is $7.41 to $12.15, and the 12-month consensus price target is $9.51.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
