Ford Gets A Pickup From Pickups: F-150 Drives Jump In May Sales | Harold Zeigler Newsletter Lowell MI
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Date posted: June 3, 2013

Ford Gets A Pickup From Pickups: F-150 Drives Jump In May Sales

2013 Ford F-150

(2013 Ford F-150 Shown Above)

Automakers are dishing out May sales figures Monday morning and Ford Motor F +1.34%‘s results got a lift from the improving U.S. housing recovery.

The company said sales of its F-Series line of pickups, which includes the popular F-150, jumped 31% in May. That marked the line’s 22nd straight monthly increase and its best May sales number since 2005. The F-Series also broke the 70,000 vehicle mark in a month for the first time since March 2007.

While new housing starts hit a bit of a hiccup in April, the broader trend has been positive for months as new construction continues to slowly recover from its post-bubble lows. (See “Case And Shiller Say Housing Is Better, Not Booming.”)

Overall, Ford said May U.S. sales were up 14% year-over-year, with retail sales rising 17%.

Production is also continuing at a better pace than a year ago, with plans to make 740,000 vehicles in the third quarter, up 10% from 2012 thanks to a reduced July summer shutdown and added capacity starting in the fall. Second-quarter production is expected at 800,000.

Shares of Ford gained 1.3% Monday in a mixed morning for the broader market.

General Motors GM +1.56% reported May sales rose 3.1% to just under 253,000 units, its best month of sales since 2008, and said it continues to expect industry-wide U.S. sales between 15 and 15.5 million for the year.

Toyota Motor saw May sales up 2.5% at 208,000 units, slightly ahead of expectations. Earlier, Chrysler reported an 11% increase in May sales, with its Dodge Ram line of pickup trucks jumping 22%.

GM shares gained 1.8%. American depositary receipts of Toyota were down 2.1%, while ADRs of Chrysler parent Fiat jumped 2.9%.

 

Source: [Forbes]


   
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