Friday, June 20, 2008

Ford Warns on Sales

by Bill McBride on 6/20/2008 11:04:00 AM

From MarketWatch: Ford delays new F-150 pickup, cuts truck production

[Ford] pared its 2008 U.S. industry sales forecast to a range of 14.7 million to 15.2 million cars and trucks, down from its previous projection of 15 million to 15.4 million vehicles. Ford cut its third-quarter production plans to 475,000 vehicles, 50,000 units lower than prior targets ...
Apparently June auto sales are looking really weak according to this article in the Detriot Free Press:
[I]n November ... executives were assuming Americans would buy ... only about 15.5 million [vehicles in 2008]. ... [S]o far in June ... J.D. Power and Associates and Citigroup are seeing a sales pace that is almost 20% lower -- only 12.5 million vehicles per year.