Cracking on through the July heat, manufacturers continue to crank out trucks – and Jeeps – at a torrid pace for pickup-hungry consumers.
Ford’s truck division enjoyed a healthy August, climbing 10.2% compared to the same month last year and up nearly five percent so far in 2018. F-Series sales were up 2.1 percent last month, with 70,949 total pickups sold. This marks 15 straight months of year-over-year gains for F-Series which does not mean sales have risen for fifteen straight months, rather that this July was better than last July, this June was better than last June, and so forth.
Equally telling, the Blue Oval’s overall average transaction pricing grew at a faster rate than its competitors, gaining $1200 compared to an industry increase of $700. Trucks are fat with profits, after all.
At FCA, sales of Ram pickup trucks are starting to flatten out after a rougher-than-planned launch of the 2019 half ton model. Last month’s performance was on par with the same month one year ago, just cresting 40,000 pickups, while the entire brand was up about 2% compared to July 2017.
Jeep continues to keep the lights on at FCA, with the brand itself selling about 100,000 units more to the end of July 2017 than it did one year ago. That’s a stunning 21% leap. The Wrangler itself is up 37,180, keeping in mind Wrangler sales currently comprise those of the old JK and the snazzy new JL, at least until dealers run out of the old model.
Performance at General Motors is tough to nail down, thanks to the company deciding to release their sales numbers on a quarterly rather than monthly basis. Talking heads are estimating the company as a whole sold less in July 2018 than in July 2017 but any estimates on individual nameplates, such as the Sierra or Silverado, are impossible to predict. Ask us again at the end of Q3.
Outside the Detroit Three, the Toyota Tacoma jumped by double digit percentage points in July and is up a similar amount so far this year. The Taco is up 23.3% in 2018, meaning 26,141 more copies of the mid-sizer have hit the road in the first seven months of 2017 than the same time frame twelve months ago. The Tundra is off by about a thousand units in July but is up by roughly that number in 2018.
At Nissan, sales of the full-size Titan are roughly flat through to the end of July, selling 27,271 trucks of both the XD and non-XD variety. Like the Tundra, that number is about a thousand below last year’s totals. The older-than-Methuselah Frontier pickup may have sold far fewer copies in July 2018 than in July 2017 but continues to outpace itself in terms of a yearly total. Your humble author is of the opinion that Nissan needn’t spend the money on a re-engineered Frontier while this generation of the truck continues to find plenty of buyers.
Beyond raw sales numbers, J.D. Power said the average retail transaction price last month was tracking towards $31,561. The trucks listed in this report surely contribute to that sky-high total. Average incentives are said to have risen to $3754, with an average APR of 5.74%, nearly a full percentage point higher than this time last year.
There were 24 selling days – one fewer than July 2017 – and thanks to a calendar quirk, one less weekend. Both of those metrics generally contribute to lower numbers, especially the latter.