Ford’s Best September in 11 Years

This morning’s ISM came in at 50.2. That’s on the low side, but it’s still above 50 which signals the economy is still expanding.

Two other economic reports are in our immediate view. One is that initial jobless claims rose to 277,000. The big September jobs report is tomorrow.

We also learned that construction spending rose 0.7% in August. Overall, construction spending is up 13.7% in the last year.

The best news was a very good report for auto sales. Ford (F) had its best sales month in 11 years.

Ford Motor Co. posted a 23 percent year-over-year rise to 221,599 vehicles sold in September.

The strong result for the Dearborn automaker was broad-based, with cars, trucks and utilities all posting double-digit sales gains.

The company’s retail sales increased 23 percent, and overall Ford had its best September performance in 11 years.

It joined fellow Detroit Three automakers FCA US and GM in posting double-digit gains for the month. Sales gains were aided by a later Labor Day holiday weekend selling period but the industry as a whole has also been strong.

For Ford, retail sales of the all-important F-Series trucks rose 28 percent, pushing truck sales to their highest level in nine years. Ford brand SUV sales were up 27 percent, marking that category’s best September since 2003. And sales of Ford commercial vans jumped 86 percent in route to their best September sales since 1986.

Posted by on October 1st, 2015 at 11:30 am


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