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Ford's Europe Sales Rise in November but Lag Industry Growth
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Ford Motor Co. (F - Free Report) reported a 3.6% year-over-year rise in sales to 104,700 vehicles in its 20 traditional European markets (Euro 20) in Nov 2016. The automaker however underperformed the industry, which posted a sales growth of 6.2%. In the first eleven months of 2016, Ford’s sales increased 5.8% to 1.25 million vehicles, compared with the industry’s growth rate of 7.2%.
Considering all the 50 European markets, Ford’s sales improved 6.8% to 125,300 units in the month. With this, the automaker’s monthly sales compared unfavorably with the industry sales growth of 7.3%. In the first eleven months of 2016, Ford’s sales went up 5% to 1.41 million vehicles, compared with the industry’s growth rate of 5.1%.
Ford’s Euro 20 market share dipped 0.1 percentage point to 7.9% in November and 0.2 percentage points to 7.7% in the first eleven months of 2016. The automaker’s sales in the higher value retail and fleet segments accounted for 75% of total passenger car sales in the first eleven months of 2016, 5 percentage points higher than the industry average.
Ford’s commercial vehicle sales surged 13% to 28,000 units in November. Further, the market share of its commercial vehicles improved 0.2 percentage points to 13.2%. In the first eleven months of 2016, the company’s commercial vehicle sales increased 17% to a record 300,000 units. Market share improved 0.6 percentage points to 13.3% year to date. This sales performance helped Ford to become the highest-selling commercial vehicle brand in Europe in November as well as for the first eleven months of the year.
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.
Price Performance
So far this year, Ford has underperformed the Zacks categorized Auto Manufacturers-Domestic industry due to weak operating results in most regions and poor forecast for the full year.
Allison Transmission has a long-term growth rate projection of 11%.
America's Car-Mart has a long-term expected growth rate of 45.5%.
Rush Enterprises has a long-term expected growth rate of 15%.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>
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Ford's Europe Sales Rise in November but Lag Industry Growth
Ford Motor Co. (F - Free Report) reported a 3.6% year-over-year rise in sales to 104,700 vehicles in its 20 traditional European markets (Euro 20) in Nov 2016. The automaker however underperformed the industry, which posted a sales growth of 6.2%. In the first eleven months of 2016, Ford’s sales increased 5.8% to 1.25 million vehicles, compared with the industry’s growth rate of 7.2%.
Considering all the 50 European markets, Ford’s sales improved 6.8% to 125,300 units in the month. With this, the automaker’s monthly sales compared unfavorably with the industry sales growth of 7.3%. In the first eleven months of 2016, Ford’s sales went up 5% to 1.41 million vehicles, compared with the industry’s growth rate of 5.1%.
Ford’s Euro 20 market share dipped 0.1 percentage point to 7.9% in November and 0.2 percentage points to 7.7% in the first eleven months of 2016. The automaker’s sales in the higher value retail and fleet segments accounted for 75% of total passenger car sales in the first eleven months of 2016, 5 percentage points higher than the industry average.
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Ford’s commercial vehicle sales surged 13% to 28,000 units in November. Further, the market share of its commercial vehicles improved 0.2 percentage points to 13.2%. In the first eleven months of 2016, the company’s commercial vehicle sales increased 17% to a record 300,000 units. Market share improved 0.6 percentage points to 13.3% year to date. This sales performance helped Ford to become the highest-selling commercial vehicle brand in Europe in November as well as for the first eleven months of the year.
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.
Price Performance
So far this year, Ford has underperformed the Zacks categorized Auto Manufacturers-Domestic industry due to weak operating results in most regions and poor forecast for the full year.
Zacks Rank & Key Picks
Ford currently carries a Zacks Rank #3 (Hold). Some better-ranked auto stocks include Allison Transmission Holdings, Inc. (ALSN - Free Report) , America's Car-Mart Inc. (CRMT - Free Report) and Rush Enterprises, Inc. (RUSHA - Free Report) . All these stocks are currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Allison Transmission has a long-term growth rate projection of 11%.
America's Car-Mart has a long-term expected growth rate of 45.5%.
Rush Enterprises has a long-term expected growth rate of 15%.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>