DETROIT -- Thanks mostly to the best March sales in 18 years for the F series, Ford Motor Co.'s monthly sales increased 3.5 percent over a year ago.
Of Ford's 26 nameplates, 15 posted sales declines, while 11 were up in March. But the mix of sales favored high trim levels, and average transaction prices grew, said Mark LaNeve, Ford's head of U.S. marketing, sales and service. The F series, for example, saw its average transaction price grow $1,700 per vehicle over last year to $46,800 per truck.
And even though the new Lincoln Navigator sold only 1,711 units in March, the average transaction price over a year ago jumped $25,600, LaNeve said. The redesigned Expedition also saw higher transaction prices, increasing $11,500 over last year.
Ford says it has the highest transaction price of any full-line automaker at $36,300 per vehicle.
In March, the Ford brand handily outsold its crosstown rival, Chevrolet, 233,669 units to 199,367.
Shift to SUVs
The Focus and low-volume GT supercar were the only cars in the Ford lineup to post gains last month, while both of Lincoln's cars, MKZ and Continental saw declines. Nearly all of Ford's pickups, SUVs and crossovers gained, while Lincoln lost ground with the MKC and MKX utilities.
Brands: Ford up 3.7%; Lincoln down 2.1%
Notable nameplates: F series up 7% to 87,011, the best March sales since 2000; Lincoln Navigator up 91% to 1,711 units; Mustang down 5.4%, Lincoln Continental down 14%; Fusion down 14%; EcoSport posted its best month yet with 3,296 sold.
Incentives: $4,150 per vehicle, up 1.4% from a year earlier, according to ALG.
Average transaction price: $37,197 per vehicle, up 3.3% from a year earlier, ALG estimates.
Fleet mix: 34.9%, 1.7 percentage points higher than a year ago.
Inventory: 719,157 vehicles, an 82-day supply. That compares with 717,561 units, an 89-day supply, a month ago.
Quote: "We have a 14-day supply on Navigator, which obviously is incredibly low. Effectively, we don't have any supply. Customers are buying it sight unseen, calling up dealers and saying they'll take the next one that comes in. I'm astounded at Navigator's transaction price in March. It's up $25,600 over a year ago. In all the years I've been doing this, I have never seen a number like that." said Mark LaNeve, Ford's head of U.S. marketing, sales and service.
Did you know? Ford's sales of 87,011 F-series pickups with an average transaction price of $46,800 equaled $4 billion in revenue in March, making it the auto industry's most valuable franchise.
