Ford March US Sales Rise 19% On Broad Gains; Tops Rival GM
11 minutes ago Dow Jones
DOW JONES NEWSWIRES
Ford Motor Co. (F) reported March U.S. vehicle sales jumped 19% due to broad gains for cars and larger vehicles, selling more units than crosstown rival General Motors Co. (GM) for the first time since a historic victory in February 2010.
Shares of Ford rose 2.8% to $15.32 in recent trading.
The auto maker's strong sales built on a 40% increase in sales that Ford reported last March. Car-shopping website Edmunds.com last week projected Ford would sell more new vehicles than GM, saying the latter's results would likely be constricted by a pullback in incentive spending.
Ford, the only member of Detroit's Big Three auto makers that didn't file for bankruptcy reorganization in 2009, has been outperforming peers the past two years, returning to No. 2 domestically behind GM in the process.
The company reported it sold 212,777 vehicles in March, compared with 178,546 a year earlier, and 36% higher than in February. The larger Ford brand reported a 28% increase in sales, while Lincoln sales fell 2.2%. A year ago, Ford sold 10,486 Mercury vehicles, a brand it has since phased out.
Company-wide, truck sales jumped 24%, while sport-utility vehicles sales improved 22%. Car sales increased 13%.
March had 27 selling days, one more than last year.
Ford sold 17,178 units of the Focus, down 12% from last year, although Focus retail sales increased 16%. The company has initiated a global launch of the new Focus, as it bets traditional small-car buyers will embrace innovative technology. On Friday, it said sales were lower as the all-new model was just starting to arrive at Ford dealers.
-By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com
