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Ford's Europe Sales Rise in July Despite Lower Industry Sales
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Ford Motor Co.’s (F - Free Report) shares inched up 0.8% on Aug 15, after the automaker reported a 4.5% year-over-year rise in sales to 105,200 vehicles in its 20 traditional European markets (Euro 20) in Jul 2016. This is its best July sales since 2009. The automaker fared better than the industry, which posted a sales decline of 1%. In the first seven months of 2016, Ford’s sales increased 7.1% to 823,800 vehicles, compared with the industry’s growth rate of 8%.
Considering all the 50 European markets, Ford’s sales improved 0.4% to 117,800 units in the month.With this, the automaker’s monthly sales compared favorably with the industry sales decline of 4.1%. In the first seven months of 2016, Ford’s sales went up 6.2% to 925,300 vehicles, compared with the industry’s growth rate of 5.3%.
Ford’s Euro 20 market share inched up 0.5 percentage points to 8.1% in July but fell 0.1 percentage points to 7.9% in the first seven months of 2016. The automaker’s sales in the higher value retail and fleet segments accounted for 78% of total passenger car sales in the first seven months of 2016, up 2 percentage points year over year, and 4.8 percentage points higher than the industry average.
Ford’s commercial vehicle sales surged 21% to 24,339 units in July, the highest since 1993. Further, the market share of its commercial vehicles improved 1.7 percentage points to 12.9%. In the first seven months of 2016, the company’s commercial vehicle sales increased 18% to 186,863 units. This sales performance helped Ford to become the highest-selling commercial vehicle brand in Europe in July as well as the first seven months of the year.
Ford plans to launch seven all-new or revamped vehicles in Europe this year, including the recently launched Transit Custom and Transit 2-tonne. This should drive sales in the future. Vehicles to be launched include the KA+, Fiesta ST200, S-MAX Vignale, Edge Vignale and Kuga Vignale.
Ford expects SUV sales in Europe to surge 30% in 2016. In fact, it anticipates sales of SUVs to be more than 200,000 units for the first time.
The company also expects record sales of performance cars in Europe this year. Sales are expected to improve 50% over 2015 to around 40,000 cars.
Ford currently carries a Zacks Rank #5 (Strong Sell). Some better-ranked automobile stocks include The Goodyear Tire & Rubber Company (GT - Free Report) , Fox Factory Holding Corp (FOXF - Free Report) and Gentex Corp. (GNTX - Free Report) , each carrying a Zacks Rank #2 (Buy).
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Ford's Europe Sales Rise in July Despite Lower Industry Sales
Ford Motor Co.’s (F - Free Report) shares inched up 0.8% on Aug 15, after the automaker reported a 4.5% year-over-year rise in sales to 105,200 vehicles in its 20 traditional European markets (Euro 20) in Jul 2016. This is its best July sales since 2009. The automaker fared better than the industry, which posted a sales decline of 1%. In the first seven months of 2016, Ford’s sales increased 7.1% to 823,800 vehicles, compared with the industry’s growth rate of 8%.
Considering all the 50 European markets, Ford’s sales improved 0.4% to 117,800 units in the month.With this, the automaker’s monthly sales compared favorably with the industry sales decline of 4.1%. In the first seven months of 2016, Ford’s sales went up 6.2% to 925,300 vehicles, compared with the industry’s growth rate of 5.3%.
Ford’s Euro 20 market share inched up 0.5 percentage points to 8.1% in July but fell 0.1 percentage points to 7.9% in the first seven months of 2016. The automaker’s sales in the higher value retail and fleet segments accounted for 78% of total passenger car sales in the first seven months of 2016, up 2 percentage points year over year, and 4.8 percentage points higher than the industry average.
Ford’s commercial vehicle sales surged 21% to 24,339 units in July, the highest since 1993. Further, the market share of its commercial vehicles improved 1.7 percentage points to 12.9%. In the first seven months of 2016, the company’s commercial vehicle sales increased 18% to 186,863 units. This sales performance helped Ford to become the highest-selling commercial vehicle brand in Europe in July as well as the first seven months of the year.
Ford plans to launch seven all-new or revamped vehicles in Europe this year, including the recently launched Transit Custom and Transit 2-tonne. This should drive sales in the future. Vehicles to be launched include the KA+, Fiesta ST200, S-MAX Vignale, Edge Vignale and Kuga Vignale.
Ford expects SUV sales in Europe to surge 30% in 2016. In fact, it anticipates sales of SUVs to be more than 200,000 units for the first time.
The company also expects record sales of performance cars in Europe this year. Sales are expected to improve 50% over 2015 to around 40,000 cars.
FORD MOTOR CO Price
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Zacks Rank
Ford currently carries a Zacks Rank #5 (Strong Sell). Some better-ranked automobile stocks include The Goodyear Tire & Rubber Company (GT - Free Report) , Fox Factory Holding Corp (FOXF - Free Report) and Gentex Corp. (GNTX - Free Report) , each carrying a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>