Ford rises 5% on crossovers, higher F-150 spiffs - Automotive News
DETROIT -- The Ford F-series pickup achieved its first year-over-year sales increase since January as Ford Motor Co. posted an overall U. S. sales gain of 5 percent last month, to 222,014 vehicles, figures released today show. Ford brand light-vehicle sales rose 4. 4 percent, while Lincoln sales jumped 21 percent. Ford executives say inventories should reach normal levels by the end of September. Mark LaNeve, Ford’s vice president of U. S. sales, marketing and service, said Ford raised incentives on the F-150 by about $1,000 per vehicle around July 8. He said that increase was a “planned action as part of our summer selldown” rather than a... Including the higher incentive spending, transaction prices for the F series rose $3,200 from a year ago to an average of $44,000 in July, LaNeve said. Last week, Ford said higher transaction prices for the F-150 and other newly redesigned vehicles contributed to a 44 percent increase in second-quarter net income and a record quarterly profit in North America. Ford Motor’s utility vehicles -- a category that includes both SUVs and crossovers -- had a strong. Source: www.autonews.com
