Ford Motor Co. said total vehicle sales in January fell 0.6%, as a sharp drop in car sales offset increases in trucks and sport-utility vehicles. Trucks sales rose 5.5% to 72,579 vehicles, with F-Series truck sales surging 12.5% to 57,995 vehicles. Ford SUV sales grew 6% to 58,732 vehicles, with Escape sales rising 7.1% and Explorer sales increasing 7.2%. Car sales tumbled 17.5% to 41,301 vehicles, with Fusion sales down 21.9%, Focus sales plunging 26.2% and Taurus sales dropping 9.6%, while Fiesta sales jumped 39.6%. Ford said average transaction prices rose $2,500 to a near-record in January, compared with an industry average increase of $550. The stock, which gained 0.4% in morning trade, has advanced 2.8% over the past 12 months, while the S&P 500 has gained 18%.
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