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Politics : Stockman Scott's Political Debate Porch

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To: Jim Willie CB who wrote (50197)	7/2/2004 3:32:49 PM
From: T L Comiskey	Read Replies (1) of 89467

Pressures on GM, Ford After U.S. Sales Declines Friday July 2, 2:02 pm ET By Michael Ellis DETROIT (Reuters) - Double-digit drops in U.S. auto sales at General Motors Corp. (NYSE:GM - News) and Ford Motor Co. (NYSE:F - News) in June pressures them to raise profit-eroding incentives to "ballistic" levels and could also spur costly production cuts, analysts said on Friday. The fall in sales by Detroit's two largest automakers pushed industrywide U.S. auto sales to a nearly six-year low and added to evidence that the economy may not have been as robust as thought in the second quarter, industry analysts said. "With (vehicle) inventory at critical levels, aggressive incentive spending will likely be necessary to maintain planned production schedules," Goldman Sachs analyst Gary Lapidus said in a research note. The automakers "would likely implement ballistic incentives before cutting 2004 production," he said.

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