Ford Motor Company (NYSE:F) sold a total of 204,650 vehicles in April. This represents a 7% drop from what the company sold during the same period last year. However, the motor maker reported a 5% increase in Fiat Chrysler Automobiles NV sold on April compared to what was reported last year.
The company’s Lincoln and Ford brands reported a drop of 12.1% and 4.3% in sales respectively in April. It is only the company’s trucks that reported an increase in sales in April, going up by 1%. The entire F-Series went up by 3.5% while the Ford Transit went up by 4.5%.
Dropping cars for SUVs and trucks
Sales from Ford cars dropped by 15% in April even as the company announced that it is quitting the car market and shifting focus and resources towards production of SUVs and trucks which it says are more profitable.
In a statement, Ford vice president of U.S. marketing, sales and service Mark LaNeve said that then industry is currently operating at very strong levels and the company is experiencing this trend with its Ford-Series which he said have reported gains for 12 consecutive months. He added that the current market is favoring the well-equipped trucks ad SUVs.
The company reported a 22.3% drop in Expedition sales while sales from the Lincoln Navigator went up by 122.4%.
The increase in FCA sales was mainly as a result of the 20% increase in sales from the Jeep Brand. This success was mainly as a result of the gains reported by Compass, Cherokee and Wrangler. The Dodge brand also reported a 4% increase in sales in April as did the Journey and Caravan which rose by 39% and 21% respectively.
The company reported a 9% drop in sales from the Ram trucks brand. Additionally, the Fiat fell by 45% while the Chrysler brand fell 18%.
Last month General Motors Company (NYSE:GM) announced that it will no longer report monthly results. Analysts are projecting reduced sales for the month of April compared to what the company reported during the same period last year.
This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.