Ford Announced its Sales in February, Dropping Steeper than Expected

Ford Motor Co. (NYSE: F) announced a decline in its sales of February, dragging down by the continuous decrease of car sales.

According to the company, compared with last year, sales were down 4% in February, which was more than the previous estimates of 1.2% decline. Overall U.S. sales of Ford were 208,440 in the last month. Retail sales dropped 3%, and fleet sales were down 5%. However, Ford brand SUV rose 6% and reached 68,820 vehicles. Ford F-Series also increased 9% compared with last year to 65,956 vehicles, which is the best result since 2004.

Mark LaNeve, the vice president of U.S. Marketing Sales and Service, said in the statement that the company reduced its average incentives on F-Series pickups by $330 to $3,800 per truck, under this circumstances, the sales of F-Series also beat records in 13 years. He added that he is satisfied with the performance of F-Series.

“We continue seeing strong consumer demand for the highest-series Super Duty pickups and the all-new F-150 Raptor, plus greater availability of 2017 model year F-150s,” Mark said in the statement.

“This drove a $3,600 increase in average transaction prices for F-Series last month alone, Lincoln had a $2,100 increase, ultimately delivering an overall company transaction price increase of $1,900 per vehicle,” he said.

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