Despite July Sales Increase, Ford Shares Slip (F)

Ford Motor Company F sold 170,411 vehicles last month, up 3.1% compared with July of 2009 when the government’s cash-for-clunker’s rebate plan began. Sales were helped by the Ford Fiesta, which is in its second month of sales. Ford's gain takes into account a 33% drop in sales for Volvo, which the company officially sold on Monday. Sales of the Mustang are up 12% and sales of the redesigned Taurus more than doubled, according to the Detroit Free Press. “Ford and its dealers continue to offer customers the strongest value proposition in the industry – class-leading fuel economy, quality and growing resale values,” said Ken Czubay, Ford’s vice president of U.S. marketing, sales and service. Despite the sales gains, Ford stock fell close to 2% on Tuesday, to close at $12.92.