Stocks to watch on Tuesday: CE, IEX, SONC >>> READ MORE

Demand for the Ford Fusion Remains High

The car is gaining ground despite a higher price tag


wheels-fusion-480Ford (F) is hoping to set a sales record this year with its mid-sized Fusion sedans.

The American auto giant is estimated to have sold about 225,000 Fusions so far this year. But it hopes that the car’s strong popularity could boost it past 300,000 vehicles sold by year’s end, the Detroit News notes.

Ford CEO May Step Down Earlier Than Expected
Ford CEO May Step Down Earlier Than Expected

That would top the model’s prior annual sales record of 248,067, attained in 2011. The car’s averages sales price has been pushed up 4.4% with the introduction of the high-end  Fusion Titanium trim, which is priced above $30,000.

Despite the higher price, the Titanium could comprise as much as 20% of overall Fusion sales, especially as new vehicles hit showrooms next month. Consumer demand for the Fusion line has been so strong that earlier this month Ford announced it would build a new plant to build more of the cars.

The Ford Fusion’s success comes as the auto giant attempts to reclaim mid-sized sedan market share from Honda (HMC) and Toyota (TM). The Toyota Camry, which has been the top car in the U.S. for more than a decade, could lose its crown to vehicles from Ford, General Motors (GM), Nissan (NSANY) or Honda as soon as next year.

Last year, the Fusion was named “Green Car of the Year” by Green Car Journal.

Shares of Ford fell about 1% in Monday morning trading.

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC