Ford September U.S. New-Vehicle Sales Up 5.8% on Strong Car Sales
By John Kell
Ford Motor Co.'s (F) U.S. new-vehicle sales climbed 5.8% in September from a year ago on strong car and truck sales, with demand particularly strong for the C-MAX, Fusion and heavy trucks.
Shares were recently up 1.8% to $17.18, rising in line with the broader market's gain.
U.S. new auto sales are expected to fall 3.7% in September from a year earlier, according to online automotive- information provider Edmunds.com, a decline that would end a 27-month streak of gains dating back to June 2011. Edmunds blamed the projected decline on a calendar shift as a result of an early Labor Day in 2013 that pushed some sales into August.
Overall, Ford sold 184,452 vehicles in the U.S. in September, up from 174,976 a year ago but down 13% from August's total of 213,078. Light-vehicle sales, which exclude heavy trucks, rose 5.7% to 185,146 from last year.
The Ford brand, the company's largest, posted a 6.3% increase in sales, while Lincoln sales fell 5.1%.
Ford's sales of cars and trucks jumped 14% and 8.3%, respectively, more than offsetting a 4.1% drop for utilities.
September had 23 selling days, two fewer than a year ago.
Earlier Tuesday, peer Chrysler Group LLC reported its sales inched up 0.7%, as higher car sales offset a slight decline for trucks.
Even if the industry's overall U.S. sales fall in September, auto makers have lately gotten a lift from increased activity in the home-building and energy sectors, which are key consumers of pickup trucks. Lower interest rates and slow-but-steady job growth are also emboldening consumers to trade in worn-out cars and trucks.
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Corrections & Amplifications
This item was corrected at 3:54 p.m. EDT to show that the month's light-vehicle sales rose 5.7% to 184,452, not 185,146.
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