Ford Motor Co. (NYSE: F) on Monday reported a U.S. sales decline of 5.1% year-over-year in June, to 227,979 Ford and Lincoln vehicles, compared with June 2016 sales of 240,109. Passenger car sales fell 23% in the month of June.
Truck sales rose 1.2% for the month, and sales of F-Series pickups jumped by 9.8%. Retail sales were flat in June at 152,396 units and fleet sales fell 13.9% to 75,583 units.
Total sales compare to an estimate of 216,000 by analysts Kelley Blue Book (KBB), who also estimated an average transaction price of $38,398, up 3% year over year and down 0.1% compared with May’s average selling price. KBB transaction prices do not include applied consumer incentives.
The company said its overall average transaction prices rose $1,800 year over year.
Sales of the Ford F-Series pickups rose 9.8% year over year in June to 77,895 units, and F-Series transaction prices rose $3,100 year over year. In May, Ford sold 76,027 F-Series trucks, following an April sales total of 70,657.
Truck sales comprised nearly 43% of all Ford-brand sales in June, and the F-Series pickups accounted for about 34% of total June sales.
Sales of the company’s sport utility vehicles (SUVs) posted a year-over-year increase of 2.9% in June.
Ford Fusion sales fell nearly 32% year over year, and only the company’s Taurus passenger car posted a year-over-year gain (up 16.6%). Fiesta sales were down 0.9% and Mustang sales fell 36.7% year over year.
Sales of the Lincoln brand rose 5.3% year over year in June as sales of Lincoln cars rose 1.8%, primarily on sales strength for the all-new Lincoln Continental. Car sales totaled 3,229 units in the month, and utility vehicle sales totaled 6,046 units. SUV sales rose 7.3% year over year in June.
Ford’s stock traded up about 0.5% shortly after Monday’s opening bell, at $11.26. The 52-week range is $10.67 to $14.04, and the 12-month consensus price target is $12.74, according to MarketWatch.
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