Ford's February retail sales were up 28%, compared with a 7% increase for the four retained General Motors brands, while fleet sales were up 74%.
Although down before the sales announcement, Ford stock was rising afterwards. Shortly after midday, shares were up 9 cents to $12.50.
Sales were higher throughout Ford's lineup. Year-to-date auto sales were up 54% over the same month a year earlier, utilities were up 39% and trucks were up 36%. Among brands, Ford sales were up 46%, Lincoln sales were up 19% and Mercury sales were up 24%. Ford brand cars were up 63%.The automaker also said its sales rose 22% from January to February, and year-to-date sales were up 34%. Additionally, "the good news is we have even more new products and fuel-efficient powertrains coming this year, and we expect our progress to continue," said Ken Czubay, vice president for marketing, sales and service, in a prepared statement. During the second quarter, Ford plans to produce 595,000 vehicles, up 144,000 vehicles or 32% from the same period a year earlier. First-quarter production is expected to total 570,000 vehicles. -- Written by Ted Reed in Charlotte, N.C.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV