Unsurprisingly, Premium Ford Pickup & SUV Sales Reach New Heights
Think Ford trucks are too expensive? Premium pickup truck sales continue to surge, while Ford SUV sales set a new record.
Americans might not be buying as many vehicles as they did last year, but they sure are focusing on specific segments. Ford SUV sales grew 3% in April of 2017 to 67,309 units, setting a new record for the month. Even though F-Series sales slipped a meager 0.2% compared to last April, they enjoyed a big increase in average transaction pricing. What does that mean? More and more people are forking out big bucks for Lariat, King Ranch and Platinum models.
Ford’s SUV surge was led by the Expedition, whose sales totaled 5,116 units for a 13% increase over last year. Ford sold 25,637 Escapes in April, which represents a 7% increase, and set a record for the compact SUV. Lastly, the third spot on the board was awarded to the Edge, which moved 12,147 units for a 6% increase.
Ford moved a ton of full-size pickups last month, as per usual. The F-Series represented 70,657 units sold in the month of April. That might be slightly behind last year’s pace, but an overall increase of $3,700 in average transaction price is quite impressive. The Super Duty alone enjoyed a tremendous $8,400 average increase, setting a new record transaction price of $58,200.
Despite the off month for truck sales, the F-Series is still up 1.6% for the year. SUV sales are even better at 2.2%. Car sales, on the other hand, continue to slide. Surprised? April saw a decrease of 21.2%, bringing the YTD slide to -22.1%.
All of this tells us that recent trends continued in April, and they don’t appear to be losing steam any time soon. Customers are ditching cars for SUVs and trucks, especially those in premium trims. Ford might not be selling as many units this year, but the ones they are selling are highly profitable, and we’re pretty sure they’re OK with that! Especially in a year which experts predicted automotive sales would slide anyway.
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Sales statistics via: [Ford]