Shares of Ford Motor Co. (F - Free Report) gained 1.26% to close at $13.64 on Mar 18, after the automaker reported that its SUV sales in the U.S. have been exceptionally high in the first two months of 2016. Retail sales of Ford SUVs were 115,228 units in the two months, rising 16% over the prior-year period to an all-time high.
The strong results were aided by all-time high February sales of SUVs. Sales improved 28% from the figure recorded in Feb 2015. All six Ford SUV nameplates recorded double-digit sales growth last month.
Ford Edge saw the maximum year-over-year growth of an impressive 91% in Feb 2016. Ford Flex’s sales soared 77% during the month. Sales of both these SUVs surged 56% year to date. Sales of the Police Interceptor Utility also surged 50% in Feb 2016 and 30% year to date.
Ford Expedition sales rose 22% in February and 19% year to date. Sales of Ford Explorer and Ford Escape were up 18% and 14%, respectively, in February, as well as 7% and 5%, year to date.
Ford currently carries a Zacks Rank #2 (Buy). Some other well-ranked automobile stocks include Cooper Tire & Rubber Co. (CTB - Free Report) , Navistar International Corporation (NAV - Free Report) and The Goodyear Tire & Rubber Company (GT - Free Report) . While Cooper Tire currently sports a Zacks Rank #1 (Strong Buy), both Goodyear and Navistar hold a Zacks Rank #2.
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