This Detroit Automaker Was Left in the Dust Last Month
"Better late than never." That's likely what many investors thought about the automotive industry's first sales gain of the year, when it was announced that September light-vehicle sales moved 6.3% higher compared to the prior year. The industry's seasonally adjusted annualized sales rate (SAAR) reached 18.58 million last month, which was even better than the optimistic forecasts. And while Ford Motor Company (NYSE: F) and General Motors (NYSE: GM) posted strong September results, Fiat Chrysler Automobiles (NYSE: FCAU) continued to struggle.
Here are some of the highlights and takeaways from each Detroit automaker.
Ford delivered good news when it noted the recoveries in Houston and in Florida were moving quickly, helping to drive replacement demand and strong results for September. While fleet sales spiked 25.1% to 52,704 units, retail sales also posted a strong 4.4% gain to 169,544 units. Furthermore, Ford's fleet sales may have jumped over 25%, but the segment only generated 23.7% of its September sales, which is below its year-to-date 29.8% rate. Ford was also able to trim its days' supply of gross stock inventory down from 81 days' worth at the end of August to 72 days' at the end of September.
Source: Fool.com
Ford Motor Co. Stock
We see a rather positive sentiment for Ford Motor Co. with 13 Buy predictions and 2 Sell predictions.
With a target price of 14 € there is a positive potential of 21.8% for Ford Motor Co. compared to the current price of 11.49 €.
