It should not come as too big of a surprise, but American auto maker Ford Motor (NYSE: F) announced today that its sales fell by 5.1% in September.Following this summer's widely popular "cash for clunkers" program, it was some what expected that demand would weaken during September as so many people had just recently purchased new cars to take advantage of the government program.
During the month, Ford said that it sold 114,241 light vehicles, down from 120,355 during the same period last year.
The 5.1% year over year decline was not even close to the sequential drop in sales from the previous month when car buyers were flocking to their local dealerships. Compared with August numbers, September sales were off by 37.2%.
Ford is not expected to be the only major auto maker that saw sales drop during the month, we will get more reports throughout the day from the other major companies which are expected to show similar dips in September sales.
Ford shares have dropped by 2.5% on the day, to $7.04, down $0.17.
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Reader Comments (Page 1 of 1)
10-01-2009 @ 4:44PM
inteller said...
Come one people....it was only 5%....cover the REAL news, GM drops 45%. You are not helping capitalism by highlighting Ford with the bad news.
State how far off Toyota or Honda sales were.