Boston, MA 03/04/2014 (wallstreetpr) – Ford Motor Company (NYSE:F) saw its sales for the month of February plummet by as high as 6% compared to the same month in 2013. The automotive company blames the massive winter storms that rocked the US as the reason behind the dip in sales. Ford is still optimistic that once the blip in the weather conditions ends, it will be in line to meet its quarterly and yearly sales. The dip in sales of 6% slightly surpassed estimates of 5.3% from analysts.
Ford sales
Ford Motor Company (NYSE:F) total February sales came in at 183,947 vehicles with retail sales dropping by 4% to clock in at 125,919 total number of vehicles sold. This drops were slightly overshadowed by the increase in sales from Ford’s F-Series and Lincoln brand vehicles. F-series total sales for the month came in 55,882 vehicles, making up the best Ford’s sales for the month. Ford Motor Company (NYSE:F) fleet sales were also heavily impacted by the harsh weather conditions that delayed portion of the fleets consequently going down by 10% when compared to the same month a year ago
Lincoln sales continue rallying
Lincoln sales that included MKZ and MKX totaled 6,661 an increase of 36% for the month compared to the same month a year ago. Lincoln segment has been performing extremely well in the market with the trend having been recorded for the past 5 months and double digit gains for four of the five months.
Sales started picking up momentum at the end of the month of February which according to the company’s marketing, sales and services department vice president John felice, should continue in the current month. Ford Fusion continues its rally in the market recording good improved sales despite the harsh environmental conditions outpacing sedan segment in total sells.
The 6% drop in Ford Motor Company (NYSE:F)’s total sales pushed the automotive industry down in Monday trading session, by 0.6%. Ford also saw its 42.7 million shares exchanging hands, as compared to a daily average volume of 45.3 million
Ford Motor Company as a result of the drop in sales, saw its stock go down by 1.23% to close at lows of $15.20.
