Ford sales off 48% say the news stories today. But that’s not the whole story.
Last month Ford sold 99,400 vehicles.
In February 2008 Ford sold 192,799 vehicles.
In February 2007 Ford sold 211,150 vehicles.
In February 2006 Ford sold 244,021 vehicles.
So a more accurate headline might be, “Ford sales down 60% in three years.” While the biggest drop has been over the past year (made worse by the fact that there was one more day last February), the decline is part of a continuing trend, and that seems to me to be a significant factor. See if you can find mention of it in any of today’s news stories.
I donno. It looks like the economic conditions are making everyone afraid to buy any big ticket items, and those who are buying are sometimes having trouble getting financing. These apply to both consumers and businesses.
Purchases are running waaaaay below replacement, despite a growing population, so there are assumed to be a lot of pent up demand, awaiting a turn in the economy.
Ford has some excellent product offerings out there, so they are well-positioned, if they can hang on long enough.
I’m waiting for “going out of business” sales.