Ford US sales dive 48 pct as auto slump continues

DETROIT: Ford Motor Co. says its US sales fell 48 per cent in February, proof that huge rebates and low-interest financing aren't enough to entice fearful consumers to make a major purchase.

The Dearborn, Michigan automaker sold 99,060 vehicles last month, compared with 192,248 the same month in 2008. Other automakers report their sales later on Tuesday.

In January, industrywide US sales dropped to their worst monthly performance since December 1981. Many industry observers expect February's numbers to be worse.

The decline is a sign that people are keeping their cars longer due to the slumping economy and fear of losing their jobs. Those who are buying are more often opting for a used car or truck.