Ford Jumps on Strong February Sales

It’s still early but Ford Motor (F) is having a nice morning. The stock has been up as much as 4% today, and it broke above $13 per share.

The company just reported its best February sales in 11 years.

Ford Motor Company’s U.S. sales were up 20 percent in February versus a year ago with 217,192 vehicles sold. Retail sales grew 11 percent – the company’s best February since 2005.

Retail sales gains came across the product portfolio. Cars gained 6 percent, trucks increased 5 percent, and SUVs were up 22 percent.

Ford SUV sales last month – the best February in company history – totaled 65,016 vehicles, up 28 percent versus a year ago. Edge jumped 91 percent, Explorer was up 18 percent and Escape gained 14 percent.

F-Series sales were strong, too, with 60,697 vehicles sold – a 10-percent increase – marking Ford’s best February for F-Series in a decade.

“We saw a solid industry last month and a strong month for Ford, as customer demand for our newest vehicles – including new high-end series on Explorer and Edge – helped Ford increase its average transaction prices at almost double the industry average,” said Mark LaNeve, Ford vice president, U.S. Marketing, Sales and Service. “Offering more high-end options for truck and SUV customers and having the capability fleet buyers value as they are reinvesting in their fleets are strengthening our business.”

Posted by on March 1st, 2016 at 9:39 am


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