Business & Tech
Ford Sales Rise In May
The sale of the Dearborn automaker's F-Series trucks led the surge.
DEARBORN, MI — For the first time this year, the Ford Motor Company posted a month-over-month sales increase. The numbers are in and the Dearborn automaker’s sales rose 2.2 overall in May, led by by strong truck sales. General Motors and Fiat Chrysler Automobiles NV reported drops of 1.3 percent and 0.9 percent respectively.
At Ford, truck sales jumped 9.4 percent in the month. F-Series truck sales totaled 76,027 last month, up 12.8 percent from May 2016. It marked the best May results in 13 years, the Detroit News reported.
“May marked a standout month for Ford brand SUVs, with a May record 74,910 SUVs sold,” Mark LaNeve, Ford vice president of U.S. marketing, sales and service, said in a statement. “Plus, we continued to see strong F-Series performance, with sales and share rising this year, along with average transaction pricing. In May, overall F-Series sales were up double digits and transaction prices grew $3,300 per truck.”
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Ford brand sales rose 2.1 percent and Lincoln Motor Co. sales were up 4.9 percent in May, the newspaper reported. Auto industry analysts were somewhat surprised by Ford’s performance.
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“We could see a positive month for the industry for the first time this year in May, but Kelley Blue Book expects totals to finish about even year-over-year, despite one extra selling day in 2017,” stated Tim Fleming, analyst for Kelley Blue Book, in a statement . “Retail numbers for May are expected to finish strong, however they continue to be supported by considerable incentives and lease subvention. In recent months, leasing appears to be reaching its peak, which is expected, given declining residual values and which is contributing to this year’s slowing sales.”
Photo by Bill Pugliano / Stringer / Getty Images News / Getty Images
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