Car sales are often used as a gauge for consumer confidence. If people are confident in what’s going economically, they’ll find room in their monthly income for a car payment. If they aren’t confident in what’s going on, they’ll stand pat, eat PB&J sandwiches everyday for lunch, and stay out of the showroom.
The month of June showed people had confidence in the financial system, and that showed with people heading to Ford dealerships to buy a new vehicle. Ford Motor Company sold over 225,000 cars, trucks, and SUVs during the month, which is a 2-percent increase over June 2014.
“Strong retail momentum continues building for our newest vehicles – including F-150, Mustang, Edge, and now Explorer,” said Mark LaNeve, Ford vice president, U.S. Marketing, Sales and Service. “The Ford brand’s average transaction prices have increased $2,700 versus a year ago – more than triple the industry average – while our incentives are down, showing how much customers value our investment in new vehicles with the latest technologies.”
Enjoying a great June was Ford’s F-Series trucks, Explorer, and Edge, while Lincoln’s MKC and Navigator also had a strong showing. Are vans making a comeback? Ford vans sold at a level not seen since June of 1999, with over 21,000 sold during the month. The all-new Transit also enjoyed a strong June, it’s strongest month to date.
Of course, with the new 2015 Mustang, the car is really hitting its stride, and gaining market share with more people seeing them in the wild. Last month represented the Mustang’s strongest June since 2007. The car was really hot where the weather is the nicest; Southern California, where Mustang retail sales are up 157 percent.
Hopefully, consumer confidence continues to the point where Ford sales remain strong. That means the company will continue to churn out cool cars.