Ford Motor (F:NYSE) announced June monthly U.S. sales
earlier today. This Alert is an update on the company and
we're not recommending any trades for the model
Ford reported that domestic sales rose 1.5% year over
year, which fell short of expectations for a 2.3%
increase. Still, the company's results were favorable
relatively to the 3% decline at General Motors (GM:NYSE)
in the same period.
Ford said the growth was driven by demand for its new
Edge and Explorer SUVs, where sales increased 30% from
the previous year. In addition, the company is seeing
higher demand from fleet buyers, including rental car
agencies. Management also said average pricing is up
$2,700 year over year, which is three times the industry
The stock is ticking lower this morning and recently
changed hands around $14.95. The yield has moved back
above 4% and we maintain that Ford is attractive to
purchase at current levels. Management will announce full
second-quarter results on July 28 and we expect the
company will announce its next quarterly dividend of
$0.15 a share before then.
David S. Peltier
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