Ford Q3 US Sales Fall 6.6% as Escape, Corsair Phase-Out Bites
F is trading near its 52-week low of $11.11 (11% above the low).
Summary
Ford's Q3 US sales dropped 6.6% to 509,764 units, driven by the phase-out of the Escape and Lincoln Corsair crossovers, though total vehicle sales volume was about flat when adjusting for that phaseout. Truck sales held up, rising 0.5% to 315,112 units, and the hybrid Maverick jumped over 20% to 41,970 units. F-Series sales strengthened with 2.4% growth in September, and Bronco had record third-quarter sales. Overall SUV sales fell 17% in the quarter, while car sales rose 7.5%. Management highlighted strong hybrid demand, including for the F-150, as high gas prices push buyers toward electrified options, and noted strength for large SUVs including Expedition and Explorer models. Ford's paid software subscriptions topped 1.7 million through September, up over 40% year-over-year. This follows Q2's 10% sales decline and a net loss, but the company had raised full-year adjusted EBIT guidance and expects the financial hit from the F-150 supplier issue to be contained within its full-year forecast. The sales dip is in line with Detroit peers facing Asian competition, but the mix shift toward hybrids is a key watch item for margins. Ford Truck & Van US Sales Totaled 891,400 Vehicles Through September.
Updated with a Wiseek News report · What changed
Updates
· Wiseek News — Ford's paid software subscriptions topped 1.7 million through September, up over 40% year-over-year.
· Dow Jones Newswires — Ford expects the financial hit from the F-150 supplier issue to be contained within its full-year forecast.
- Sales Performance — Total vehicle sales volume was about flat when adjusting for the phaseout of Escape and Lincoln Corsair. F-Series sales strengthened with 2.4% growth in September.
- SUV and Car Sales — Overall SUV sales fell 17% in the quarter. Car sales rose 7.5% in the quarter.
All 6 details
- Ford's total vehicle sales volume was about flat when adjusting for the phaseout of Escape and Lincoln Corsair.
- F-Series sales strengthened with 2.4% growth in September.
- Ford highlighted strength for its large SUVs, including Expedition and Explorer models.
- Bronco had record third-quarter sales.
- Overall SUV sales fell 17% in the quarter.
- Car sales rose 7.5% in the quarter.
At the time of this announcement, F was trading at $12.37 on NYSE in the Manufacturing sector, with a market capitalization of approximately $48.9B. The 52-week trading range was $11.11 to $17.78. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.