Ford US auto sales rise three percent in October
Filed under: Company News, Economy, Ford Motor Co.
Strong demand for cars and crossovers lifted Ford's (F) U.S. sales three percent in October, a positive sign for automakers who are hoping a healthier economy will draw buyers back to showrooms.Ford said its sales rose 21 percent from September to 118,735 vehicles, when auto sales were still in a hangover after the "cash for clunkers" program boosted sales this summer. Automakers had said October would be a test of how strong the market is without any effect from clunkers.
Ford's overall car sales rose 11 percent over last October, while crossovers climbed 23 percent, Ford Motor Co. said Tuesday. Truck sales fell 10 percent. New products like the Ford Taurus sedan and Lincoln MKT crossover sold well. More than 80 percent of last month's sales came from new 2010 models.
Fuel-efficient models like the Ford Fusion sedan and Escape small sport utility vehicle also flew off showroom floors, with both notching sales jumps of around 25 percent.
Ford eked out a better a performance in October even as its spending on consumer incentives declined, according to Edmunds.com. The automotive research Web site said Ford spent $2,909 per vehicle on incentives. That's down one-fourth from October last year and 6 percent from September.
But the automaker still spent more on incentives than the industry average, with Japanese automakers like Honda and Toyota spending significantly less.
Ford said it marked the 12th time in 13 months that its U.S. market share rose as it continues to grab buyers from competitors. Ford has been benefiting from consumer goodwill because it didn't take government bailout money or go into bankruptcy, as General Motors Corp. and Chrysler LLC did.
It was more good news for Ford, which said Monday it made nearly $1 billion in the third quarter. Ford's North American division also reported its first profitable quarter in four years.
Ford shares fell three cents to $7.55 in midday trading on the New York Stock Exchange.
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Reader Comments (Page 1 of 1)
11-03-2009 @ 1:54PM
Tech said...
Duh! It's the only American car company that isn't bankrupt! Also they did put more effort into building higher quality cars and wisely had the cash lined up so Obama couldn't take them over and dictate policy. Yes I do have a Chevy SUV and I like it and loved my 77 Olds Delta 88 Royale Coupe but geez, look at what's happened to GM since Wagoner destroyed it and Obama took over. Saturn their big hope-DEAD. Pontiac-on the way to the graveyard. Dealers closing and tens of thousands of lost jobs. My dealer was killed along with over 30 of his other dealerships and thousands of jobs. We should have shot the executives, politicians and globalist banksters but hey, yeah it would still be a shadow of what used to be the greatest company and employer in the USA. Only way to buy American today is Ford an they beat Toyota pickups, SUV's, cars, if you get past the hyped baloney. Flush Washington.
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11-03-2009 @ 2:09PM
George said...
Good post, my words exactly. I believe many people are buying Ford that would have otherwise bought a Chevy or a Chrysler. I believe that many Americans do not like O'Bama's meddling and the UAW stealing GM stock for their own purposes. Buy American, Buy Ford!
11-03-2009 @ 2:12PM
Marine E7 said...
Tech...Saturn was DOA. It never really took off and it was just a matter of time before it went under. GM had too many shingles producing the same cars ( how is Obama to blame for this??). In Pontiac and Oldsmobile's case, their core buyers are for the most part gone(how is Obama to blame for this??). Ford on the other hand only had two brands to develop for. Bottom line,GM became too bloated while Ford wasn't. As far as product, Ford got it's act together about 2 years earlier than GM (how is Obama to blame for that??).
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11-03-2009 @ 3:11PM
Marine Colonel said...
Gunny, I'm ashamed of you. If you watched the news last night, even as Ford reported its earnings, the union was gearing up to take it down. Now the unions were and are huge supporters of Obama, hell, he even gave Chrysler to the union, so, how's not to blame Obama for at least some part of this? The man is dirty up to his neck in big money. Leave Ford alone while we still make something worth a damn in this country.
11-03-2009 @ 2:22PM
DAVO said...
HAD FORD TEMPO'S AND ESCORTS FOR YEARS .THE PARTS WERE REALLY CHEAP ALTERNATORS WERE $ 25.00 NOT $600. THEY ARE NOW . KEPT THEM RUNNING FOR YEARS LOVED THEM . BACK TO THE PROFFIT STORY THIS IS FROM CASH FOR JUNKERS , SELLING ASSETTS , PUTTING OFF PAYMENTS TO NEXT CYCLE , ETC . LETS WAIT 6 MONTHS TO SEE IF THEY ARE COOKING THE BOOKS OR MAKING REAL MONEY
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11-03-2009 @ 3:20PM
James said...
By the way, speaking of Cash for Clunkers, what the hell was Obama doing when he included foreign made cars and trucks in the deal? I thought this was to stimulate American business, not lend a hand to his fellow socialist nations. I read that the government is still stiffing the dealers on their paybacks for the 4500 too. Check out those dealer closings while you're at it. You will find that most of the dealers selected for closing by the "Car Czar" were contributors to RNC. Guess who the dealers selected to remain open made contributions to? Oh the boy is dirty all right.
11-03-2009 @ 2:42PM
Dana said...
I bought a 2006 Fusion and now have 50k on it. Just a superior vehicle and I'll get another when this one turns 100K. Ford knows how to do it and I'm glad to be a part of their "family". Wow I guess I bought the right car. ps Had a 1996 Chrysler Cirrus and had a prob..The dealer threw up his hands and said," Can't help ya>" Glad he's gone
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11-03-2009 @ 3:38PM
Keith said...
And no where is it mentioned that GM sales were up 4% for October with Chevy showing a 31% increase and Chrysler was DOWN 30% in sales. Apparently not everyone is dissing GM
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11-03-2009 @ 3:59PM
luette said...
cars for clunkers cost every amercan 24,000 per car and was a success for Japan.....go Obama
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11-03-2009 @ 3:57PM
dan said...
The real question here is America going to be a third world to China, Germany, and Asia?
When Americans wake up, realize they have nothing to gain from globalism, then they will start to vote out the neocon Republicans and corporate Democrats who support multinational corporations and Wall Street. They have nothing in common with main street, the small businessman and the workers who make up 70% of the economy, something the government seems to forget when it comes to trade agreements and organizations like GATT and then the WTO, which have brought lower wages to workers since 1973. These agreements have traded is the middle class for cheap products from Asia.
Ford is a multinational business that can move to Canada anytime if if doesn't want to pay wages and taxes in this country, it's not an American company anymore than Toyota is. They have no allegiance to this country other than its share holders, board members and CEO.
When American decide to change this global trade agreement to benefit American workers and economic development will be when workers wages increase and main street gets better.
The only way for this to happen it to break up the monopolies like health insurance, autos, pharmaceuticals, etc and let free enterprise work to build up our manufacturing base so that we have a balanced economy of exports to imports. Not until them will we see wages increase and standard of living get better for all Americans, not just Wall Street and the top 1% who own 25% of the wealth in our country.
It's time for some trick up economics.....................
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11-03-2009 @ 4:12PM
Ed Newberry said...
I hope Ford Makes it in this Economy! I have been a GM Man my whole adult life. I own a Corvette and a Silverado Pickup now. However I will never again Purchase a UAW made Automobile ( especially GM) as long as this union supports this Marxist Terrorist in Washington! SIEU will never be supported by me or Mine! These un-American unions must be destroyed for their Treason!
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11-03-2009 @ 4:17PM
Alan Lacey said...
Some reasons pop out here..........
1) Ford is not under the Obama administrations' severe fiscal constaints.
2) Ford was ahead of the curve in terms of debt and losses.
Cutting expenses and contolling costs.
3) I'm not a big fan, but they are buidling a pretty decent car.
They really concerning situation here is the unions. They are not interested in the long term viability of their own jobs! In refusing further concessions they appear to be dooming themselves to the same fate as Chrysler and GM..........Closing plants and losing even more automotive jobs!
It's called not thinking beyond the end of you nose...............
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11-03-2009 @ 4:31PM
Bob said...
So Ford made a net profit, after taxes, of $997,000,000.00, almost the $1,000,000,000.00 for the third quarter. Sounds like an enormous amount of profit. Probably why it was reported as a dollar amount by AP, sounds like an obscene profit for just three months, doesn't it?
However, Ford;s gross sales during the third quarter were $23,800,000,000.00 so their $997,000,000.00 net profit as a percent of gross sales less costs is only 4.019 percent which really is not all that obscene.
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11-16-2009 @ 1:17PM
Flash said...
Dont let OBUMMER and his White House GANGSTERS know a private company made a profit.They will do what they can to spread the wealth to OBUMMER MOTORS by TAXING the HELL out of the profit made by Ford.Just a question to the CLUELESS AMERICANS who voted for HOPE and CHANGE,how s that working out for you?.The DEMONCRATIC run Congress has an approval of less than 20 percent but the LAP DOG DRIVE BY MEDIA isnt reporting it.Enjoy Ford while you can cause OBUMMER and his unions will destroy it too.
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11-03-2009 @ 9:44PM
BOB said...
America.........Support Ford Motor Company...a true American Company.
...................On the other hand.............never ever ever ever ever buy a GM car for the rest of your life. The company was stolen from the shareholders and given as a gift to the Union............to buy votes...............SCREW GM.........GM IS DEAD............NEVER EVER EVER BUY A GM CAR OR TRUCK......................GM SUCKS.
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11-03-2009 @ 9:46PM
bob said...
Just wait...........the political winds always shift and the time is coming when the new president and congress will let GM go into bankruptcy like it should have this time. If you own GM stock........you are a moron......................BUY FORD.
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