Ford sales dropped 35% despite customer incentives. WOW! 35% drop. As credit crunch spreads, this is going to effect more people.
"Consumers and businesses are in a very fragile place," Ford marketing executive Jim Farley said in the company's press release. "An already weak economy compounded by very tight credit conditions has created an atmosphere of caution."......
"February 1993 was the last time that fewer than one million new vehicles were sold in a month, and we're coming remarkably close to that volume again," said Jesse Toprak, executive director of industry analysis at Edmunds.com. He added that October sales traditionally are worse than September.
It's going to get even worse next month!
GM's sales fell only 16%.
http://online.wsj.com/article/SB122286679412694031.html?mod=googlenews_wsj
The content contained in this blog represents the opinions of HousingDepression.
This commentary in no way constitutes investment advice. It should never be relied on in making an investment decision, ever. Nor are these comments meant to be a solicitation of business in any way - such inquiries will not be responded to. This content is intended solely for the entertainment of the reader, and the author. We may hold either long or short positions in securities of various companies discussed in the blog. The information in blog may contain misspellings and other inaccuracies. It is provided "As IS," without express or implied warranties of any kind. HD represents all rights to the information.
Technorati Tags automakers,ford,gm
No comments:
Post a Comment