Joined: Mar 26, 2005 Posts: 3787 Location: over here
Posted: Tue Jul 01, 2008 10:25 am Post subject: Ford's sales drop 27.9 percent on high gas prices
Quote:
DETROIT - Ford Motor Co.'s June sales dropped 27.9 percent as high gas prices and a sluggish economy took their toll.
With General Motors shares trading near their lowest levels in more than half a century and gasoline prices rising to record levels, the auto industry braced to deliver another bleak monthly report on auto sales.
Industry analysts said June sales could drop to their lowest monthly rate in 16 years, with several predicting another double-digit dip.
Joined: Sep 16, 2004 Posts: 4460 Location: Southwest WI
Posted: Tue Jul 01, 2008 10:26 am Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
Ford data is out:
Quote:
SAN FRANCISCO (MarketWatch) -- Ford Motor Co. (F:
Ford Motor CompanyF 4.43, -0.38, -7.9%) said Tuesday its June U.S. sales fell 28.1% to 174,091 vehicles, dragged down by poor truck sales. Ford reported that June U.S. truck sales fell 35.6% to 101,981 units from a year ago. Ford's popular F-series trucks suffered a 40.5% drop in June U.S. sales to 38,789 units from last year
Truck sales smashed. _________________ "Oil is going up because we use too much oil, and the capacity to replace reserves is dwindling"
-President Bush 11/07/07
Last edited by frankthetank on Tue Jul 01, 2008 12:17 pm; edited 1 time in total
Joined: Sep 16, 2004 Posts: 4460 Location: Southwest WI
Posted: Tue Jul 01, 2008 12:06 pm Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
Not bad compared to Ford. Although the car sales are really taking a hit for GM.
Quote:
SAN FRANCISCO (MarketWatch) -- General Motors Corp. (GM:
General Motors Corporation
News, chart, profile, more
Last: 11.86+0.36+3.13%
2:04pm 07/01/200GM 11.86, +0.36, +3.1%) on Tuesday reported an 18.2% decline in June U.S. light vehicle sales to 262,329 cars and trucks from 320,668 in June 2007. Sales of cars slid 21.1% while trucks declined 16%. The truck market remains burdened by a sharp rise in fuel prices but GM expects its market share performance to be strong compared with April and May, said Mark LaNeve, vice president of GM North America vehicle sales, service and marketing. "Make no mistake about this...Asian automakers do not have a monopoly on fuel efficient vehicles," LaNeve said in a statement. End of Story
_________________ "Oil is going up because we use too much oil, and the capacity to replace reserves is dwindling"
-President Bush 11/07/07
Joined: Sep 16, 2004 Posts: 4460 Location: Southwest WI
Posted: Tue Jul 01, 2008 12:13 pm Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
Quote:
The Detroit automaker saw a U.S. sales decrease of 8.3 percent in June, compared with forecasts among auto analysts of about a 19.3 percent fall.
CNBC reports sales figures on an adjusted basis accounting for the number of selling days in the most recent month compared with the year prior. There were 24 selling days in June, compared with 27 days a year earlier.
GM sold a total of 265,937 vehicles in the month, compared with 326,300 cars and trucks in June of last year. The numbers easily outpaced June sales for GM arch-rival Toyota Motor.
Toyota reported a U.S. sales decline of 11.5 percent on an adjusted basis, with total sales reaching 193,234 vehicles, compared with 245,739 last year.
Toyota said its Toyota-brand sales were down 10.3 percent. Sales for its luxury Lexus brand—usually a showroom stalwart—fell 21.1 percent.
Light truck sales were especially hard hit for Toyota, falling to 61,268, down from 100,043 in June of last year.
cnbc
Can't believe Toyota took that big of a hit. I have noticed the amount of Tundras on the local dealerships lot is very large.
Lot more used junkers on the road in the future. _________________ "Oil is going up because we use too much oil, and the capacity to replace reserves is dwindling"
-President Bush 11/07/07
Posted: Tue Jul 01, 2008 1:33 pm Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
Been noticing a lot of Tundra ads on TV lately, they must be desperate to move them. They are trying to advertise their "good resale value"..right...I have a bridge in Brooklyn...
Joined: Sep 16, 2004 Posts: 4460 Location: Southwest WI
Posted: Tue Jul 01, 2008 1:55 pm Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
I know a guy who was looking at both the GMC and the Tundra pickups, both with similar options, engines (4x4, extended, V and the Tundra was a lot cheaper, due to rebates. This was over a month ago, so it may have changed. The guy bought neither and still drives his old truck.
Honda was the only one that i've seen to gain in sales.
more from Marketwatch:
Quote:
Incentives dip from last year
Despite some added promotions from GM and Toyota, the industry spent an average of $2,356 per vehicle on incentives in June; that's down about 1% from a year ago, according to car-buying research site Edmunds.com.
"General Motors' last-minute 72-hour sales campaign helped increase their incentive spending for the month, and Toyota needed some additional dollars to move their large SUVs and trucks from dealer lots," analyst Jesse Toprak said.
GM led the top automakers by spending $3,454 per vehicle on average. Chrysler wasn't far behind at $3,427; Ford came in at $2,745.
Toyota didn't spend nearly the same amount at just $1,186 per vehicle, but that figure still represents the most the company has ever put toward incentives. Honda spent the least of all at $1,367, down from its year ago totals but up from last month.
_________________ "Oil is going up because we use too much oil, and the capacity to replace reserves is dwindling"
-President Bush 11/07/07
Posted: Wed Jul 02, 2008 1:15 am Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
I find this enormous plunge in car sales to be one of the biggest signs yet of the tremendous size and duration of the economic catastrophe on the brink of making landfall in the U.S. (And concurrently going global.)
I know the equities markets have defied all kinds of economic gloom (they should have crashed months ago), but I'm surprised the markets aren't reacting to this decisively recessionary news with a good, solid crash. It's now clearly game over for the great post-war (WWII) American bull market economy.
Joined: Aug 03, 2007 Posts: 3765 Location: Boston Suburbs
Posted: Wed Jul 02, 2008 1:58 am Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
Drifter wrote:
Ford Stocks
GM stocks
I keep wanting to rationlize how GM could survive long enough for the Volt to save them and I just don't see it. Even if they live long enough to see the Volt through to production, they won't start making money off of it until years later, like the Prius.
Really, two years is aeons with charts like those. _________________ Paranoia is demonstrated to be an infectious disease, and stupidity plus the internet its major vector.
Joined: Nov 01, 2005 Posts: 834 Location: Euro high horse bastard on the run
Posted: Wed Jul 02, 2008 3:27 am Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
VOLT was always a gimmick, you don't go about supposedly
revolutionizing your entire fleet with 10k production volume
and > $40k price tag..
Again, bad karma from EV1/ZEV mandate murder and the NiMH supression fraud will haunt GM till they finally de-tool into riksha/bicycle shop a segment where they belong! _________________ DOOMerotron: at all-time high [8.1] out of 10..
Joined: Jun 03, 2005 Posts: 216 Location: New Jersey
Posted: Wed Jul 02, 2008 4:37 am Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
The money quote:
Quote:
George Pipas, Ford's top sales analyst, said SUV sales are probably down for good.
"Our view is that gas prices aren't likely to go down, and more importantly, many consumers have moved on," he said. "We believe that the segment has merit for certain consumers but is not likely to rebound at any point."
I wonder how SUV owners are dealing with the looks of scorn from others at the pump. I do feel sorry for those purchased for some legit reason, but I am enjoying contemplating the low status of the owners of these vehicles.
Joined: Sep 16, 2004 Posts: 4460 Location: Southwest WI
Posted: Wed Jul 02, 2008 7:10 am Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
Wouldn't they be better off just retooling for mass scooter production or even bicycle production? They could cut costs while increasing sales Person can't buy an American built scooter these days.
Or they might want to pull out the old blueprints for the Metro. _________________ "Oil is going up because we use too much oil, and the capacity to replace reserves is dwindling"
-President Bush 11/07/07
Posted: Wed Jul 02, 2008 7:41 am Post subject: Re: GM, Ford, and Chrysler Death Watch Thread
Waterthrush wrote:
The money quote:
Quote:
George Pipas, Ford's top sales analyst, said SUV sales are probably down for good.
"Our view is that gas prices aren't likely to go down, and more importantly, many consumers have moved on," he said. "We believe that the segment has merit for certain consumers but is not likely to rebound at any point."
I wonder how SUV owners are dealing with the looks of scorn from others at the pump. I do feel sorry for those purchased for some legit reason, but I am enjoying contemplating the low status of the owners of these vehicles.
As a guy who owns one of those Ford SUV's.....
Havent seen any dirty looks. Not a one. Maybe I just havent seen them though, but even if I do I'll simply smile and wave.
Its easy to project our angers for our own situations onto others, so if I see someone getting mad at what I drive, thats like a bit of icing on my cake. _________________ "Battle not with monsters, lest ye become a monster, and if you gaze into the
Abyss, the Abyss gazes also into you."
Ammo at a gunfight is like bubblegum in grade school: If you havent brought enough for everyone, you're in trouble
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and the Tundra was a lot cheaper, due to rebates. This was over a month ago, so it may have changed. The guy bought neither and still drives his old truck.
Person can't buy an American built scooter these days.
