Ford Motor Company (NYSE:F) Sales Down 4.7%; Fiat Chrysler Up 5% In April


Ford Motor Company (NYSE:F) sold a total of 204,650 vehicles in April. This represents a 7% drop from what the company sold during the same period last year. However, the motor maker reported a 5% increase in Fiat Chrysler Automobiles NV sold on April compared to what was reported last year.

The company’s Lincoln and Ford brands reported a drop of 12.1% and 4.3% in sales respectively in April. It is only the company’s trucks that reported an increase in sales in April, going up by 1%. The entire F-Series went up by 3.5% while the Ford Transit went up by 4.5%.

Dropping cars for SUVs and trucks

Sales from Ford cars dropped by 15% in April even as the company announced that it is quitting the car market and shifting focus and resources towards production of SUVs and trucks which it says are more profitable.

In a statement, Ford vice president of U.S. marketing, sales and service Mark LaNeve said that then industry is currently operating at very strong levels and the company is experiencing this trend with its Ford-Series which he said have reported gains for 12 consecutive months. He added that the current market is favoring the well-equipped trucks ad SUVs.

The company reported a 22.3% drop in Expedition sales while sales from the Lincoln Navigator went up by 122.4%.

The increase in FCA sales was mainly as a result of the 20% increase in sales from the Jeep Brand. This success was mainly as a result of the gains reported by Compass, Cherokee and Wrangler. The Dodge brand also reported a 4% increase in sales in April as did the Journey and Caravan which rose by 39% and 21% respectively.

The company reported a 9% drop in sales from the Ram trucks brand. Additionally, the Fiat fell by 45% while the Chrysler brand fell 18%.

General Motors

Last month General Motors Company (NYSE:GM) announced that it will no longer report monthly results. Analysts are projecting reduced sales for the month of April compared to what the company reported during the same period last year.

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