How are the June auto sales for Ford?
DETROIT (Reuters) – U.S. auto sales tumbled 28 percent in June, the narrowest decline in nine months, as Ford Motor Co stole market share from its rivals. Automakers said the results pointed to more stability for the economy, but fell short of marking a turnaround for the U.S. auto market after a punishing four-year decline. Ford, the only U.S. automaker not supported by emergency U.S. government funding, reported a 10.9 percent drop in U.S. sales in June and took back the No. 2 position in U.S. sales from Toyota Motor Corp through the first half of 2009. The sales results came as General Motors Corp pleaded its case to the U.S. Bankruptcy Court to permit a swift sale of its best assets to a new company funded by the Obama administration and avoid liquidation. GM, the top-selling automaker in the U.S. market, posted a 33.6 percent decline in U.S. sales in June and sounded a more cautious tone about the economy than rivals in a conference call with analysts and reporters. “Our results a
Ford expects June auto sales to fall 10% to 20% in June, comparatively better than the steep declines it had reported in recent months, according to media reports Monday. The numbers indicate that the economy may have turned a corner, George Pipas, Ford’s sales analyst, told reporters. The sentiment echoes remarks he had made in an interview with MarketWatch last week. “June is likely going to be higher than May and April, not jaw-dropping higher, but we’re on the right path,” Pipas said. “I’m almost choking on these words, but the worst might just be behind us.” Automakers will release June auto sales on Wednesday with most companies expected to report dismal data for June. Sources: http://www.marketwatch.
