Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Can you beat 50% per month? -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (7404)	12/1/2004 1:35:17 PM
From: Smiling Bob	Respond to of 19256

F 14.16 bid remains a GREAT short Ford Sales Fall, Chrysler Posts Gain 28 minutes ago Business - Reuters By Michael Ellis DETROIT (Reuters) - Ford Motor Co. (NYSE:F - news) on Wednesday reported its sixth straight month of weaker vehicle sales, prompting the second-largest U.S. automaker to further cut production of cars and trucks, while Chrysler posted another sales gain. Related Quotes F GM DCX DJIA NASDAQ S&P 500 14.18 38.80 45.20 10554.52 2130.41 1187.97 0.00 +0.21 +0.39 +126.50 +33.60 +14.15 delayed 20 mins - disclaimer Data provided by Reuters Sponsored by: New Pro Platform Ford said it expects vehicle production in North America during the first quarter next year to fall by 78,000 cars and trucks, or nearly 8 percent, to 930,000 vehicles. Analysts had expected Ford to cut production about 5 or 6 percent. Wall Street closely watches vehicle production because it directly affects earnings. General Motors Corp. (NYSE:GM - news), expected to post a moderate drop in its sales later on Wednesday, is also seen cutting its first-quarter production in North America by about 6 percent. Despite escalating incentives, both GM and Ford have lost market share this year, causing inventories of unsold vehicles to rise. The production cuts suggest that Ford and GM now believe that higher incentives are no longer enough to boost sales and offset market-share losses, analysts said. Both automakers have already cut production in the fourth quarter. Ford's U.S. sales, excluding its foreign brands such as Jaguar and some heavy-duty trucks, fell 4.3 percent to 217,859 vehicles in November from 237,099 in the year-earlier period, despite the launch of its hotly anticipated new Mustang sports car. The results are adjusted to account for an extra selling day in November last year. "The slightly softer-than-expected production (cut) will weigh on the stock in the near-term, but we think the market will be reassured by what looks like healthy new model momentum at Ford's passenger car business," JP Morgan analyst Himanshu Patel said in a research note, referring to Ford's recent car launches. Ford shares were up 2 cents at $14.20 on the New York Stock Exchange (news - web sites) on Wednesday afternoon. The Chrysler side of DaimlerChrysler (NYSE:DCX - news)(DCXGn.DE) reported its seventh consecutive month of stronger sales, driven by the success of the new Chrysler 300, the highly-touted large sedan. INDUSTRY SALES DOWN Analysts expect industry sales to fall to a seasonally adjusted annual rate of around 16.5 million, down from 16.9 million in both October and November last year. Many consumers may have postponed buying a new car or truck until December, when automakers are expected to raise incentives further in order to meet annual sales targets, analysts said. Japan's Nissan Motor Co. Ltd. (7201.T) posted another month of double-digit gains, with a rise of 31 percent in vehicle sales. Strong sales of Nissan's new Pathfinder sport utility vehicle helped boost results, the automaker said.