Ford's US sales plummet 21%
Ford Motor Co's US sales plummeted 21 per cent in September as the automaker saw a steep drop-off in car sales, according to results released Tuesday.
By Agencies |
DETROIT: Ford Motor Co's US sales plummeted 21 per cent in September as the automaker saw a steep drop-off in car sales, according to results released Tuesday.
Ford's car sales dropped 39 per cent compared with last September, while its truck sales were down 5 per cent. The automaker said a 62 per cent reduction in sales to rental car fleets partly was to blame. Ford has been trying to cut back on rental sales, which can hurt brand image and profits.
Other automakers also were expected to report lackluster sales for the month, as jittery consumers put off big-ticket purchases in reaction to the credit crunch, high gas prices and the troubled housing market. Wall Street analysts predicted overall sales would be down 4 percent for the month.
Media reports unadjusted figures, calculating the percentage change in the total number of vehicles sold in one month compared with the same month a year earlier. Some automakers report percentages adjusted for sales days. There were 25 sales days last month and 26 in September 2006.
Ford's car sales dropped 39 per cent compared with last September, while its truck sales were down 5 per cent. The automaker said a 62 per cent reduction in sales to rental car fleets partly was to blame. Ford has been trying to cut back on rental sales, which can hurt brand image and profits.
Other automakers also were expected to report lackluster sales for the month, as jittery consumers put off big-ticket purchases in reaction to the credit crunch, high gas prices and the troubled housing market. Wall Street analysts predicted overall sales would be down 4 percent for the month.
Media reports unadjusted figures, calculating the percentage change in the total number of vehicles sold in one month compared with the same month a year earlier. Some automakers report percentages adjusted for sales days. There were 25 sales days last month and 26 in September 2006.
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