Ford Down 3.5% Today

Shares of Ford are down 3.5% after the stock was downgraded by an analyst at Citigroup. The analyst kept the price target the same at $17 per share but lowered Ford to “neutral” from “buy.” Ford also reported December sales growth of 1%.

Ford Motor posted its best December sales figure since 2005. Ford’s U.S. sales rose 1% to 220,671 vehicles. But overall 2014 sales were flat vs. a year ago at 2.48 million vehicles on a planned 15% reduction in daily rental sales.

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“Demand for the all-new F-150 also is very high, and it now is the fastest-turning vehicle in Ford showrooms, averaging just five days on dealer lots in December,” said John Felice, Ford vice president, U.S. Marketing, Sales and Service in the release.

F-Series sales total 74,355 vehicles in December and 753,851 vehicles for 2014 as lower gas prices helped boost demand for larger trucks and SUVs.

Posted by on January 5th, 2015 at 10:28 am


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