Ford Slips After Carmaker Reports Quarterly Sales Drop; F-Series Pickup Sales Rise

Among vehicle types, trucks lead the way, up 15.9%, while SUVs fall 4.1% and cars slump 41%.
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Ford (F) - Get Report shares were a bit lower Monday after the carmaker reported that fourth-quarter sales slipped 1.3% from a year earlier.

Among vehicle types, trucks led the way, up 15.9%, while SUVs fell 4.1% and cars slumped 41%.

The company sold nearly 602,000 cars in the quarter, against 610,000 in the year-earlier quarter. Split by nameplate, Lincoln sales rose 17.8% while Ford sales eased 2.2%.

The biggest seller among the trucks was the F-Series, up 1.6% to nearly 234,000. Ford said the F-Series was the biggest selling pickup in the U.S. for the 43rd straight year.

The strongest performances within trucks were increases of 17.8% in the Transit model and 17.3% in the Transit Connect model. The Transit is a light commercial vehicle for passenger and business use.

Among major sellers in the car division, Mustang rose 20% to more than 17,000 while Fusion sales fell a third to more than 32,000.

Lincoln was led higher by its SUVs, particularly Navigator by 14.7% and Corsair/MKC by 8.3%. 

For all of 2019, Ford vehicle sales slipped 3% to 2.42 million from 2.5 million.

Ford's results come on the heels of Friday's reports from General Motors (GM) - Get Report and Fiat Chrysler (FCAU) - Get Report.

GM vehicle sales declined 6.3% in the fourth quarter and 2.3% for all of 2019. Fiat Chrysler sales fell 2.3% in the quarter and 1.4% for the year.

Ford shares were off 1.4% to $9.09 at last check.