Ford is falling after a lackluster sales report

Ford Motor Company's stock price fell nearly 3% following the release of its July sales report.

Ford's stock dropped to $10.90 in early trading after the Detroit-based auto company reported a decline in year-over-year sales of 7.4%, several points worse than what analysts expected.

Ford's fleet sales — the sales of vehicles to rental car firms, corporations, government agencies, and utility companies — were down 26.4% in the second quarter of 2017.

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Fast Company's 2017 top companies
20. Illumination Entertainment -- For creating a monster out of a Minion

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To see the full list of the World's 50 Most Innovative Companies of 2017, visit Fast Company.

18. Buzzfeed -- For feeding a viral fever

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17. Airbnb -- For putting a world of experiences at our fingertips

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16-11. Dalian Wanda, Huawei, Electronics, BBK, Xiaomi, Tencent, Alibaba -- For ramping up the pace for the world

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09. Chobani -- For stirring it up in the grocery store

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08. Twilio -- For giving apps a voice

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07. Netflix -- For making surfing fun again

[Illustration: Matt Rota]

06. Facebook -- “It’s creativity with technology,” says Facebook’s Sheryl Sandberg of the company’s efforts to develop ad products that drive sales

[Photo: Mark Mahaney]

04. Apple -- For baking in its advantages

[Illustration: Travis Coburn]

03. Uber -- For accelerating autonomous driving

[Illustration: courtesy of Uber]

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Retail sales fell by only 1%, with Ford's share of the retail market actually increasing over the last three months inluding July.

Ford was not the only auto company to fall short of analyst expectations. The other two major American auto companies, GM and Fiat Chrysler, reported -15% and -10.5% year-over-year sales, respectively, both well short of analyst expectations.

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SEE ALSO: Big Three automakers report another disastrous month of sales

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