Ford Motor Company (NYSE: F), today, reported that its U.S. new-vehicle sales climbed 13% in the month of May, driven by strong truck and Ford-brand sales. However, sales results missed estimates from Edmunds.com, pushing shares of the Dearborn, Michigan-based automaker lower.
Edmunds.com, a car-shopping website, had forecast Ford’s May U.S. new vehicle sales to rise 16% on a year-over-year basis.
Ford said that it sold 216,267 vehicles in the month of May, compared with 192,102 sold in May 2011. Ford’s vehicle sales rose 20% on a month-on-month basis.
The Ford brand, which is the automaker’s largest, posted a 13% increase in sales. Lincoln reported 1.7% drop in sales. Focus sales climbed 11%.
Ken Czubay, Vice President, U.S. Marketing, Sales and Service at Ford, said that the company posted solid gains across its fresh lineup of new cars, utilities, and trucks in May. Czubay noted that fuel efficiency continues to be top purchaser driver and Ford’s wide range of fuel-efficient products delivered again.
Ford also announced its North American production plan for the third quarter of 2012. The automaker said that it plans to build 690,000 vehicles in the third quarter, which represents an increase of 5% from the third quarter of 2011. Ford kept its second-quarter production guidance unchanged at 730,000 vehicles.
Ford shares have fallen sharply in trading today. At last check, the stock was trading 4.17% lower at $10.12 on above average volume of 58.79 million. Year-to-date, the stock fell 5.95%, underperforming the S&P 500, which is still up 1.62%.
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