Ford Motor Company (F) Reports 23% Increase in U.S. May Sales
Ford Motor Company (F) Reports 23% Increase in U.S. May Sales
Ford Motor Company (NYSE: F) today reported a 23% year-over-year increase in U.S. May sales. With this the Dearborn, Michigan-based company has continued the trend of strong sales and market share gains. In May, Ford, Lincoln and Mercury dealers delivered 192,253 new vehicles. This is the sixth consecutive month in which Ford sales have increased more than 20%. Year-to-date the company’s sales are up 31%.
Ford’s retail sales were up 19% in May. The company gained retail market share 19th time in the last 20 months. Fleet sales saw an increase of 32%. The company is benefiting from high-quality vehicles, which are fuel-efficient and also deliver industry-leading levels of safety as well as smart design and value.
Commenting on the results, Ken Czubay, vice president of U.S. Marketing Sales and Service, said that the company’s strong focus on making fuel-efficient and high quality vehicles is paying off for both, the company and its customers. Czubay said that Ford’s customers are rewarded because its vehicles’ resale value has continued to increase at a faster rate than the overall industry.
Earlier in April, resale values of Ford, Lincoln and Mercury sales outpaced the industry. Resale values saw an improvement of 24% for Ford, compared with 19% for the industry, according to auction data compiled by North American Dealers Association (NADA). Ford’s U.S. May sales certainly reflect an uptick in the economy. And as the economy continues to improve, the outlook for the auto maker is positive.
Shares of Ford Motor Company were up more than 4% in today’s trading. The stock reached a high of $11.87 in trading. At last check, it was up 3.94% to $11.86, with volume at 70.95 million.
The Ford Motor Company stock has a 52-week range of $5.21-$14.57. Currently, it is trading below its 50-day and above its 200-day moving averages. The stock has seen support at around $11.23 and resistance at around $12.38.
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