Ford Motor Co. (NYSE: F) on Tuesday reported a U.S. sales increase of 20% year over year in February, to 217,192 Ford and Lincoln vehicles, compared with February 2015 sales of 180,383. Truck sales rose 14.8% for the month, and sales of F-150 pickups rose by nearly 10%.
Total sales compare to an estimate of 202,000 by analysts at Kelley Blue Book (KBB). The industry research firm also reported that Ford’s average transaction price in February was $36,520, up 0.4% month over month and up 2.6% compared with February of last year. KBB transaction prices do not include applied consumer incentives.
Sales of the Ford F-Series pickups rose 9.9% in February to 60,697. In January Ford sold 50,540 F-Series trucks, following a December sales total of 85,211.
Truck sales comprised about 37% of all Ford sales in February, and the F-Series pickups accounted for about 28% of total sales in February. Both totals are a few points below the January percentages.
Where Ford saw its biggest sales boost for the month was in sport utility vehicle (SUV) sales. Both the Ford Escape and Explorer posted double-digit year-over-year sales increases. Escape sales rose 14.1% and Explorer sales were up 17.5%. The Expedition saw a sales increase of 26.1%, but that only accounted for total sales of 3,984 units. Sales of Ford utility vehicles, including SUVs but not pickups, are up 28.4% year over year.
Sales of the all-new Transit and Transit Connect totaled 14,534 units in February, up 70.3% and 8.9%, respectively, year over year.
Sales of the Lincoln brand rose 30.4% year over year in February as sales of Lincoln utility vehicles rose by 40.9%. Car sales totaled 2,727 units in the month and utility vehicle sales totaled 5,312 units. Car sales rose 14% year over year.
The stock traded up more than 3% Tuesday morning, at $12.97 in a 52-week range of $10.44 to $16.74.
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