Ford’s Fiesta has improved sales here, and globally. Photo Credit: Ford Motor Company.
What a busy week for the folks at the Blue Oval. As much as we all cheer for the weekend to get here faster, Ford Motor Company (NYSE:F) may want this week to continue considering all the great news flowing through the press room. Let’s take a look at this week’s key events.
Let’s kick things off with the first press release this week regarding improved sales here at home in the U.S. market. On Wednesday Ford Motor Company (NYSE:F) reported its August sales were up 12% compared to last year, beating analyst estimates. Ford Motor Company (NYSE:F)’s overall numbers were slowed from a dip in commercial fleet sales, but its retail sales were up an impressive 20% — good enough for its best retail sales since August 2006.
Two important highlights for sales in the U.S. were from Ford Motor Company (NYSE:F)’s F-Series and Fusion models. Firstly, the F-Series sales topped 70,000 units sold for the second time this year; something it hasn’t done twice in a year since 2006. Ford considers anything above 50,000 a solid month, see this year’s impressive results below.
Secondly, sales of the Fusion has taken a breather over the last month or two because of inventory constraints. While nobody wants to lose sales because of lacking supply, it has enabled the Fusion to sell at a $1,176 premium to the industry average and a $2,378 premium to the market-leading Toyota Camry. Sales in the U.S. weren’t the only highlight this week as success was exported overseas.
Thursday Ford Motor Company (NYSE:F) announced that it set a fourth consecutive monthly record for sales in China, increasing sales over last year by 46% to 71,000 wholesale units in August. Year-to-date sales are even more impressive, up 50% versus last year to over 551,000.
One big driver of the sales gains was Ford Motor Company (NYSE:F)’s Focus. Ford’s champion car in the region witnessed its sales rise 62% year-to-date to nearly 250,000 wholesale units sold. As Ford continues its march to double its market share to 6% by 2015 the company will need other vehicles to reach similar sales. Fortunately Ford plans to launch 15 models by mid-decade and will surely have more big winners.