Ford Motor (NYSE: F) announced today that it plans to produce fewer cars during the first quarter this year than it did last year.The company announced yesterday that it now expects to build 685,000 vehicles in North America during the quarter, a drop of 55,000 from the same period last year. That works out to a 7.4% decline.
Ford plans to improve its North American sales results in 2008, but still plans on seeing losses again this year. The company is in the middle of a turn-around plan that it thinks will take it back into profitability next year.
It has definitely been a tough run for the struggling automaker, and it is now predicting that it will have a 14 to 15% market share in the U.S. with its Ford, Lincoln and Mercury brands during the year.
Michael Fowlkes has worked as a stock trader for seven years and spent the last four years working as an analyst for the online investment advisory service Investor's Observer.
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Reader Comments (Page 1 of 1)
2-28-2008 @ 1:21PM
larry said...
Ford,Chrysler and GM should start following the lead of companies like Tanfield with at least ONE or more all electric vehicles for short drives.These have no emmisions and ,believe it or not,these will be the majority of vehicles we will rely on in 10-20 years from now.
Various reasons are obvious,oil costs,enviroment and status!
Time to get with it! Spend money on this and less on ego advertisements!
2-28-2008 @ 3:24PM
jpdr1100 said...
Funny, but I recall reading about the death of gasoline cars in the early 70s with the first oil embargo. Again in the late 70s with the second spike in gas cost.
And of course we were all going electric in the 90s when the EV1 hit the market. And here we are again.
Anyone who wants to bet that the majority of our cars will be plug-in pure electrics in 10 years, put your money up. I'll take bet every day.
2-28-2008 @ 11:32PM
Ken said...
I bought a new 99 windstar for my wife to haul all the kids in the neighborhood. The Van, although never in an accident and faithfully maintained, turned out to have numberous problems and only lasted 95000 miles before I had to junk it.
Never again FORD! I now own a HONDA!