Ford has seen a decline in the sale of its passenger cars by 24% which has dragged down the overall sales by 1.6% on a yearly basis. However, the sales of other vehicles like trucks, sports car, vans, etc. grew in numbers, the company said in a statement given on Thursday. The main contributing factor in this negative quarter was the 24.1% decline in the least popular passenger car segment otherwise the quarter would have been positive for the second largest automaker in the United States.
The premium Lincoln brand of Ford grew its sales by 11.2%, making it the best quarter for Lincoln in the last ten years. The sales volume is softening on the lower side of the average cars but on the other hand, luxury cars market is booming as the customers are readily paying for luxury cars according to Thomas King who is a senior vice president at J.D Power data and Analytics.
Ford saw demand for its more expensive trucks and heavy SUV during the quarter. The overall sales of Ford’s pickup truck, SUV’s and vans and Lincoln SUV’s made up the Topline of 83% in the company’s total sales for the quarter. The company said in a statement that the Pickups alone, which were being led by the popular F-150 line model, made up half the sales of Ford’s total volume in the segment of average 47,454 dollars. Ford further said in a statement that the customer is choosing high series and technologically advanced vehicles.
The financial data shows that SUV and truck sales have risen 3.5% and 4% respectively. The star performer in sales was the Lincoln SUV model with a dazzling number of 23.2% rise in sales. Ford remains optimistic on the prospects of the increase of sales in its luxury car market as the passenger car segment is at its all-time low.