Total U.S. sales in the month slid 12% year-over-year to 188,813 vehicles. Analysts were projecting a drop of 10% to 12%, according to Reuters.
Retail sales were down 7% over last year to 143,145 vehicles, while fleet sales fell 24% year-over-year to 45,668 vehicles.
Truck sales declined 2.2% over last year to 83,722 vehicles. SUV sales dropped 9.2% year-over-year to 60,166 vehicles
The F-Series pickup truck posted its best October sales since 2004 with 65,542 trucks sold, a 0.1% increase year-over-year.
The company forecasts fourth-quarter North American production of 700,000 vehicles.
Across the sector in general, U.S. auto sales slid 6% year-over-year in October despite higher consumer discounts as buyers flocked to pickup trucks and SUVs, Reuters reported.
Ford postponed its October sales numbers yesterday after a fire at its headquarters in Dearborn, MI interrupted power on Monday.
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Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B-.
The company's strengths can be seen in multiple areas, such as its notable return on equity and attractive valuation levels. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: F