CNBC's Phil LeBeau joins 'Squawk on the Street' with the latest Ford sales.

Ford's total vehicle sales increased by 1.6% in October compared to the previous year, even as the company faced the first month without the $7,500 government electric vehicle incentive. Sales of internal combustion engine vehicles rose by 3.4%, while electric vehicle sales dropped by 24.8% and hybrid sales declined by 4%.

Analysts expect overall auto sales rates to be between 15.7 and 15.8 million units, with projections for full-year sales recently raised. Dealers report steady showroom traffic, indicating no significant drop in consumer demand despite the end of the incentive and softer October sales numbers.

Ford sales up 1.6% in October

getting some October sales from the automakers. Let's get to Ford and fill the ball. Morning, Phil. Good morning, Carl. For the month of October. And remember, this is the first month without the government $7,500 electric vehicle incentive. So we'll talk about evs in a bit. But overall, Ford sales up 1.6% ice vehicles, internal combustion engine vehicles. Those sales were up 3.4% compared with October of last year. Here's the big fall off Evie sales down 24.8%. That is not a surprise that will not move markets. There will be nobody who says, Oh, my goodness, sales were down 24%. That was expected hybrid sales down 4%. Bottom line is this guy's none of the sales numbers that we're gonna hear from any of the automakers who are reporting for the month of October. None of them are going to be good. You strip away a $7,500 incentive, you are going to see a drop in demand again ford overall up 1.6% for the month of October. I was looking at over the weekend. Some of the forecast overall for October, I think is likely to take us back to June or so. Is that right? Probably right around there. 15.7 to 15.8 million is the expectation for a sales rates. Now we should point out that a number of analysts have raised their projections for full year sales, and they've done that over the last month and a half. It's gonna be a little challenging here for October and November. December is typically one of the strongest months of the year in terms of sales. We'll see if that holds up again this year, but typically that's what we see is is relatively strong sales for the end of the year. So, Phil, I know that this is a month that is not as great. The comparison aren't that great, but is it possible to draw any conclusions about about the consumers still being? I don't want to make the decision that the consumers weaker, and yet I think people gonna say because these numbers aren't that good, the consumers week. I just I just think you did have a lot of pull through, didn't you? You did have a lot of pull through, especially in the month of September. Jim, when I talk with dealers, they are not seeing a cliff. They are not seeing. Boy, the showroom is empty. They are seeing fairly steady traffic within showrooms. Now, that doesn't mean that everything's hunky dory. You know how dealers are there. They're always if they can sell another vehicle, they're gonna sell another vehicle, but they do not see a big drop off in demand. So far, that's what I care about. Thank you, Phil.

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