Morgan Stanley reports Ford Continues to Outperform GM
According to a research report published by Morgan Stanley today, December data for both Ford (NASDAQ: F) and GM (NYSE: GM) showed Ford continuing to outperform GM on a year-over-year basis in the US.
In the report, Morgan Stanley commented, “Ford US sales were up 10% Y/Y (up 26% M/M) in December while GM sales were up only 5% Y/Y (up 30% M/M) Ford is currently in a tighter inventory situation vs. GM with US days supply at 60 days vs. 73 LM (56 LY). GM total US days' supply was higher at 67 vs. 86 LM (62 LY). GM ended 2011 with full size pick-up truck inventory of 73 days vs. 105 days LM and well below their target of 90 days. Ford incentives rose significantly on a Y/Y basis, up to $2,991 per vehicle, up 11.4% Y/Y (up 3.0% M/M). GM incentives were $3,185 per vehicle, down 1.3% Y/Y (up 2.8% M/M).”
GM closed Friday at $25.00, while Ford closed Friday at $12.59.
