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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (40582)	10/1/2008 2:25:11 PM
From: elmatador	Read Replies (1) \| Respond to of 218483

Ford’s U.S. Sales Fell 34% in Sept. DETROIT — The Ford Motor Company said Wednesday that sales in the United States dropped 34 percent in September, as volatility in the financial markets added to the auto industry’s misery. “Consumers and businesses are in a very fragile place,” James D. Farley, Ford’s marketing chief, said in a statement. “An already weak economy compounded by very tight credit conditions has created an atmosphere of caution.” Other automakers will report September sales later Wednesday. A forecast by Edmunds.com predicted that sales would be down at the six largest carmakers, led by a 37 percent decline at Chrysler. General Motors is expected to report a 24 percent drop, while Toyota will probably say its sales fell 18 percent, Edmunds said. Total sales were expected to be about 19 percent lower than September 2007, not adjusted for one fewer selling day this year. Car dealers have been struggling to draw customers into their showrooms. Through August, vehicle sales nationwide were down 11.2 percent. The three Detroit automakers have suffered most as high gasoline prices decimated demand for pickup trucks and sport utility vehicles. Sales of light truck are down more than 20 percent so far this year at G.M., Ford and Chrysler. The companies have increased discounts on slow-selling models, with limited success. G.M. offered all shoppers an “employee pricing” discount on most models throughout September. Michael Futrell, the general manager of the Champion Chevrolet dealership in Tallahassee, Fla., said he was able to offer deals like a Chevrolet Silverado pickup truck at $6,500 below cost, yet few people were interested. He said car shoppers were typically hesitant in the months before a presidential election, but the weak economy had made this fall much worse. “People want to buy but they just don’t want to pull the trigger until they know who’s going to be in office and what this economy’s going to do,” Mr. Futrell said. “What the consumer doesn’t understand is that there’s probably not a better time to buy a car. The deals are out there, but I think everybody’s so skeptical that they’re trying to hold off.” Mr. Futrell said the first half of September was actually better than expected but that sales dried up after the extent of Wall Street’s troubles became apparent. “It was like somebody just turned the spigot off,” he said. Automakers hope the new models they are introducing this fall will help attract more shoppers. Chrysler is in the midst of introducing a redesigned version of its pickup, the Dodge Ram, and Ford will start selling its revamped pickup, the F-series, next month. G.M. has just started production of a crossover vehicle, the Chevrolet Traverse.