Ford Q2 Sales Down 10.3%

DEARBORN (dpa-AFX) - Ford (F) reported that its total second-quarter sales declined 10.3% to 549,200 vehicles, reflecting the model phase-outs and a 69% drop in daily rental sales. Excluding model transitions and assuming flat rental volumes, second-quarter sales would have risen an estimated 0.5%. Ford noted that it grew estimated June retail market share by 0.2 percentage points to 12.3%, driven by strong demand for high-margin SUVs and F-Series trucks.

For the first half period, total sales were 1,006,515 vehicles, down 9.6%. First-half F-Series sales reached 357,801 units. Ford Pro Intelligence paid software subscriptions increased by approximately 20% year-over-year in the first half period with a total of more than 900,000 active subscriptions.

Ford shares are currently trading at $13.95, up 2.23%.