Ford sees sharp drop in U.S. sales, no Q1 rebound
DEARBORN, Mich (Reuters) - Ford Motor Co expects industrywide December U.S. auto sales to drop by some 35 percent from a year earlier with no sign of a turnaround in the first quarter of 2009.
Ford, the No. 2 U.S. automaker, expects that full-year industrywide sales of light vehicles in the world's largest market will drop to near 13.2 million for 2008, down from near 16.2 million in 2007, Ford's chief sales analyst George Pipas said on Friday.
The only other time the U.S. auto industry has seen a similar 3-million unit plunge in sales over the course of a single year was during 1974 in the wake of the first oil shock, Pipas told reporters.
"We're not looking for the first quarter to be much different from what we saw in the fourth quarter," Pipas said in a briefing with reporters.
© Thomson Reuters 2009 All rights reserved
India Investment Summit 2009
Top executives and bankers discuss their own plans and the broader opportunities and challenges for India during the Reuters India Investment Summit in Mumbai and Bangalore. Full Coverage | Blog
PLAYBOY SALE
An icon bows to changing times
With his Playboy Enterprises in talks to be sold for about $300 million, the 83 year-old Hugh Hefner will be giving up control over the iconic adult entertainment empire he founded that was instrumental in shaping society's opinions on nudity, sex and free speech. Full Article
India
US
UK
