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FORD MOTOR COMPANY (F)
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Canada Dec auto sales dip; yearly sales rise to breach 2 million mark

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01/04/2018 | 12:13am CET
Chevrolet Equinox SUVs are parked awaiting shipment near the General Motors Co (GM) CAMI assembly plant in Ingersoll

Canada auto sales dipped by a percent in December, marking the second straight month of sales drop, but yearly sales were up by 4.6 percent crossing the 2 million mark for the first time, with light trucks continuing to be the bestseller in the country.

About 124,247 vehicles were sold in December, bringing the total number of units sold in 2017 to 2.03 million, according to a report published by the Global Automakers of Canada (GAC).

"It wasn't that many years ago that sales levels over the 2 million mark would have seemed completely unrealistic, but there are a lot of positive fundamentals that have supported this growth, although the last two months of the year have seen sales growth moderate slightly," GAC President David Adams said.

General Motors Co's (>> General Motors Corporation) December sales in Canada rose 9.2 percent but that of rivals Fiat Chrysler (>> Fiat Chrysler Automobiles) <FCAU.N> and Ford (>> Ford Motor Company) fell due to weak demand.

Detroit-based GM sold 19,801 vehicles in Canada last month, with Chevrolet accounting for more than half of the total sales. (http://bit.ly/2Cx1LQr)

GM Canada sold 302,826 vehicles in 2017, up 13.3 percent over the previous year, contrasting with sales in the much bigger U.S. market where the Cadillac maker recorded a fall of 1.3 percent.

However, Fiat Chrysler Automobiles (>> Fiat Chrysler Automobiles) <FCAU.N>, reported a fall in monthly and yearly sales, hurt by a lower demand for its Jeep and Dodge branded vehicles in Canada.

The company said it sold 17,654 vehicles in December, a drop of 6 percent compared to the year earlier. Full-year sales fell 4.2 percent to 267,052 vehicles.

Ford reported an 11.1 percent drop in monthly auto sales, selling 17,565 vehicles in December. However, full-year sales were up by 1.3 percent.

"We are expecting a decline in auto sales for the year in 2018," Scotiabank analyst Carlos Gomes said, noting that a slower Canadian GDP growth and vehicle price increases outpacing income growth to be likely factors.

(Reporting by Akshara P and Anirban Paul in Bengaluru; Editing by Arun Koyyur and Shounak Dasgupta)

By Anirban Paul

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Financials ($)
Sales 2017 143 B
EBIT 2017 5 153 M
Net income 2017 7 014 M
Finance 2017 11 706 M
Yield 2017 5,82%
P/E ratio 2017 6,84
P/E ratio 2018 7,41
EV / Sales 2017 0,25x
EV / Sales 2018 0,26x
Capitalization 47 747 M
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Mean consensus HOLD
Number of Analysts 24
Average target price 12,6 $
Spread / Average Target 4,7%
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Managers
NameTitle
James P. Hackett President, Chief Executive Officer & Director
William Clay Ford Executive Chairman
Robert L. Shanks Chief Financial Officer & Executive Vice President
Jeff Lemmer Vice President & COO-Information Technology
Ken Washington VP- Research & Advanced Engineering & CTO
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