Ford Motor Company (NYSE:F) Clocks 7% Increase In November Sales
Ford Motor Company (NYSE:F) stock has been going through a slight crisis in confidence over the past month. This relative downward movement in the stock is in spite of a solid growth recorded for car sales in October and a near record surge in unit car sales in November which reached a crescendo during the Thanksgiving weekend. While Ford Motor Company (NYSE:F) recorded a 7.1% increase in sales last month in comparison to same month in FY12, its competitors Chrysler Group LLC and General Motors Company (NYSE:GM) posted even higher uptake in their sales. While Chrysler Group saw its sale go up by 16%, GM saw its sales go up by 13.7% in the same period.
The surge in sales for the oldest surviving auto company in U.S was caused by the continued strong momentum being recorded by its flag ship truck model Ford F 150 which sold 16% more than its own sales in November 2013. Its most other important model was in the sedan segment. The Ford Fusion sedans sales jumped up by a super impressive 51% in comparison to Fy12 November. The increase in sales also coincided with the increased push by Ford Motor Company (NYSE:F) on special incentives to celebrate Thanksgiving.
The incentives offered by the company were in the form of cash back offers on trading in old cars and lower than market rate financing options which were funded by the car manufacturer. In addition there were also good old straight discounts to tip over the fence sitting customers. These incentives offered by Ford Motor Company (NYSE:F) were highest amongst the big auto giants of U.S at $4,658 per unit sold. It is probably due to this steep discounting which is sure to have a small dent in the overall profits the company is likely to make that the markets seem unimpressed with the growth in sales in November.