Ford Full-Year US Sales Down 1.1%; December Up

Ford Full-Year US Sales Down 1.1%; December Up

According to Autodata Corp, which tracks market sales, the seasonally adjusted annualized rate (SAAR) of US auto and light truck sales in December dropped to 17.9 million units from 18.2 million in December 2016. The average price of a new vehicle reached an all-time high a year ago of $36,113, as drivers bought bigger SUVs with more sophisticated technology.

According to Autodata, 2017 full-year sales struck 17.23 million units, down nearly 2 percent from an all-time USA record of 17.55 million units in 2016. Sales totaled 2.587 million units compared with 2.615 million sold in 2016. It's the first time in 8 years the number has dropped.

"I'm actually surprised the industry was as strong as it was, we had some pretty severe weather, bitterly cold in much of the country", Mark LaNeve, Ford's USA sales chief, said on a call with analysts and reporters.

"December capped off a record year for Ford brand SUVs", said Mark LaNeve, vice president of Ford US marketing, sales and service.

"It's good news in the sense that it highlights that the consumer is coming back to the market with soaring demands for crossovers, but it's also telling us that business investment is also strengthening, which is confirmed by a sharp improvement in pickup truck sales".

Analysts predict new auto sales will decline even more this year. Sales were down overall, with only a few automakers posting gains.

More news: Vipshop Holdings Ltd - (VIPS) Given Average Rating of "Hold" by Analysts
More news: Momentous Kenya-America flight launched
More news: WWE Rumors Roundup for Week of January 11 Ahead of Royal Rumble

Despite the usual year-end push to get vehicles out the door, most automakers endured tough sledding in December.

"F-Series had an unbelievable year as we sold almost 900,000 pickups, with strong high-end truck demand as customers continue to opt for our latest technology and equipment packages", LaNeve added. The GM plant in Oshawa is being repurposed to start producing GMC Sierra and Chevrolet Silverdo trucks starting this month. Fiat Chrysler's sales fell 11 percent, while Toyota's sales dropped 8 percent and Nissan's sales were down 9.5 percent. For the year, Toyota division reported sales of 2,129,383 vehicles, a 0.5% increase.

On the truck side, Toyota's full-size Tundra has not gained significant traction in a segment the Detroit Three automakers continue to dominate. SUV sales fell 12% year over year in December.

Industry sales in 2018 will probably drop again thanks in part to higher interest rates and greater availability of used sport utility vehicles.

The winning streak "was the result of pent-up demand after the recession that's finally just running out", said Tim Fleming, an analyst at Kelley Blue Book.

Related Articles

  • LG to showcase AI-powered TVs at CES 2018

    LG to showcase AI-powered TVs at CES 2018

    LG today announced its OLED and Super UHD smart TV lineup, which will all include the company's new ThinQ AI technology . With this feature LG customers can speak directly into the remote control to give voice commands to the TV.
    Dragon Ball FighterZ's open beta is ready to download

    Dragon Ball FighterZ's open beta is ready to download

    Gamers who will pre-order the title will unlock Super Saiyan Blue Goku and Super Saiyan Blue Vegeta . If you picked up Dragon Ball FighterZ via Amazon digitally, you can access the beta too.
    UIDAI announces virtual Aadhaar ID, hopes it will solve privacy problems

    UIDAI announces virtual Aadhaar ID, hopes it will solve privacy problems

    As a category of AUA, the limited KYC category would be providing only need-based details of user to an authorized agency. The UIDAI or Unique Identification Authority of India has introduced an optional method of Aadhaar authentication .
  • Oregonians Come to Terms with Pumping Their Own Gas

    Oregonians Come to Terms with Pumping Their Own Gas

    Kate Brown - went into effect on Monday, January 1st, 2018: A day that will live in infamy (but only if you're an Oregonian ). Up until Monday, January 1st, OR was the only other state that didn't allow its residents to pump their own gas.
    Jio Vs Airtel Vs Vodafone

    Jio Vs Airtel Vs Vodafone

    However, after 30 days, subscribers have to buy further data packs or plans to enjoy mobile internet from BSNL . The Rs. 399 pack has now taken the place of the Rs. 448 pack that offered same benefits with 70 days validity.
    Suspected Port Authority bomber Akayed Ullah pleads not guilty 'at this moment'

    Suspected Port Authority bomber Akayed Ullah pleads not guilty 'at this moment'

    Berman of the Southern District of NY said in a statement, referring to the Islamic State of Iraq and Syria, or Daesh. When Manhattan Federal Judge Richard Sullivan asked Ullah his plea, Ullah replied, "At this moment, not guilty".
  • The trolley crisis is shocking and unacceptable

    The trolley crisis is shocking and unacceptable

    Latest figures from the Irish Nurses and Midwives Organisation show 23 patients are on trolleys at Portiuncula this afternoon. Dr Foran said the challenge for the hospital has been to find isolation beds to treat patients with the flu.

    Just the Facts on Wells Fargo & Company

    Trustmark National Bank Trust Department decreased Wells Fargo & Company ( WFC ) stake by 35.61% reported in 2017Q3 SEC filing. Ccm Investment Advisers Ltd Liability Corporation stated it has 172,303 shares. 324,303 were reported by Rockland Tru Company.
    PADMAAVAT ROW: Karni Sena Protests Outside CBFC Office In Mumbai

    PADMAAVAT ROW: Karni Sena Protests Outside CBFC Office In Mumbai

    Meanwhile, CBFC has suggested some 300 cuts to the film."The makers submitted the final film with agreed five modifications". The official handles of the film on Facebook and Twitter were also changed to Padmaavat Thursday morning.
  • BABYMETAL Guitarist Mikio Fujioka Dies, Aged 36

    BABYMETAL Guitarist Mikio Fujioka Dies, Aged 36

    His death was confirmed by the pop-metal group, which honored their longtime guitarist in a post to social media . It hurts when someone close passes away, even if that someone isn't someone you know personally.
    Airbus names new CEO and chairman for Airbus China unit

    Airbus names new CEO and chairman for Airbus China unit

    At the list price for A320s, the order could total $18 billion, but large buyers often get deep discounts. He said France also hoped to agree deals sell Airbus A350 and A380 models to China in the coming months.
    'Tiger Zinda Hai' inching closer to Rs 300 crore

    'Tiger Zinda Hai' inching closer to Rs 300 crore

    While everybody knew that Katrina's rehearsal video was for Tiger Zinda Hai , one user asked: " Wow, yaar which film? ". Tiger Zinda Hai's performance in the coming days of the week will determine if it can match or get past the big number.