Ford Motor Co. (F – Analyst Report) recorded an 18% year-over-year rise in sales to 91,700 vehicles in its 20 traditional European markets (Euro 20) in Feb 2016. With this, the automaker’s monthly sales surpassed the industry sales growth of 14%. This is the best February sales for Ford since 2010.
Considering all the 50 European markets, Ford’s sales increased 17% to 104,500 units in the month. With this, the automaker’s monthly sales surpassed the industry sales growth of 10%.
Ford’s Euro 20 market share inched up 0.3 percentage points to 7.5% in February. The automaker’s sales in the higher value retail and fleet segments accounted for 75% of total passenger car sales in the month, 7 percentage points higher than the industry average.
Ford’s commercial vehicle sales went up 17% to the best February sales since 1993. Further, the market share of its commercial vehicles improved to 11.7%.
Ford plans to launch seven all-new or revamped vehicles in Europe this year. This should drive sales in the future. These vehicles include the new Kuga and Edge SUVs, Focus RS performance hatch, and a revamped Ranger pick-up.
Ford expects SUV sales in Europe to surge 30% in 2016. In fact, it anticipates sales of SUVs to be more than 200,000 units for the first time. The company also expects record sales of performance cars in Europe this year. Sales are expected to improve 50% over 2015 to around 40,000 cars.
Zacks Rank
Ford currently carries a Zacks Rank #2 (Buy). Some other well-ranked automobile stocks include Cooper Tire & Rubber Co. (CTB – Analyst Report), Geely Automobile Holdings Ltd. (GELYY – Snapshot Report) and The Goodyear Tire & Rubber Company (GT – Analyst Report). While Cooper Tire currently sports a Zacks Rank #1 (Strong Buy), both Goodyear and Geely Automobile hold a Zacks Rank #2.
