Daily Slideshow: It's early in the process, but it looks like Ford might be a bit ahead of the curve on this truck only strategy.
Gone Crazy?
When Ford announced that it was going to cease production on almost all of its passenger car lineup, sans the Mustang, it virtually blew up the Internet. And almost everyone immediately thought that Ford had lost its collective mind. Others expressed anger that they would kill off cars that many of us own and enjoy. But a few pundits knew that it was the right call to make in a rapidly changing market.
Proactive Reasoning
Those of us that closely follow Ford's sales and financials knew the writing was on the wall. Passenger car sales have been slipping for quite some time now, to the point where Ford had to do something. While other automakers quietly sit by and continue to lose money building cars, the Blue Oval decided that it was going to be proactive instead of reactive. And now there's proof that this bold decision is starting to pay off.
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Total Dominance
All you have to do is look, appropriately enough, at the sales charts. In October alone, Ford sold a grand total of 192,616 vehicles. Of those, an astonishing 150,900 were trucks, SUVs, crossovers, and vans. That's an incredible 81% of Ford's total sales, to put things into perspective.
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Still the King
F-Series trucks made up roughly half of that total, with 70,438 units heading to new homes. October was also the whopping either consecutive month that Ford sold more than 70,000 of their flagship model.
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Other Half
Of course, SUV and crossover sales continue to reach new heights, with 62,175 units sold in October. With an 8% increase, it's the best they've performed in 16 years. And Ford is also the top van seller in the U.S., moving 17,353 of them in October alone.
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Staying Hot
Reaching these new heights is even more impressive when you factor in the depressed auto market we've experienced throughout 2018. Despite that, Ford stayed hot in November with a record 9th straight 70,000+ sales month for the F-Series.
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Making Bank
As you might imagine, Ford's profitability is skyrocketing as it continues to focus on trucks as well. In November, overall transaction pricing reached $37,000, a $1,600 increase over last year. The rest of the automotive industry is only averaging a $780 increase, to put that number in perspective, with average transaction pricing of just $33,400.
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Ahead of Its Time
If you're looking for further proof that Ford's truck-only strategy was ahead of its time, we've got that too. Just look at General Motor's recent decision to cut 15% of its workforce, close five plants, and kill off multiple passenger cars.
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Too Little, Too Late?
GM's move is purely reactionary, and subsequently drew a lot of negative attention. But the automaker specifically cited consumer's shifting preference away from passenger cars and a corresponding dip in profits as the reason for these shocking cuts.
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Strength Through Diversity
So say what you will about Ford's (at the time) "crazy" decision to end most of its passenger car production. But the numbers tell a different story. And as we move forward and more automakers follow the same path, the Blue Oval will be way ahead of the curve with a diverse and stronger lineup of trucks and SUVs than anyone!
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