https://www.cnbc.com/2019/10/02/fords-third-quarter-auto-sales-fall-4point9percent-from-last-year.html
6 replies (most recent on top)
It's the cost, combined with the terms of the 90+ month loans. Fact is, we can't afford to drive a Ford!
Truck Sales for Ram & GM, up 16&14%, Ford down 6% in 3rd Qtr. The brilliant strategy to go all in, with fully optioned trucks is driving customers away. Stock @ $8.50 with a projected bottom of $7.00 - Outstanding performance from our $20M CEO. Maybe if they throw a free desk in the bed, that will turn things around.....
I would not worry too much about F150 sales for two reasons:
(1) People are girding their loins in preparation for a feared coming recession. Sales are slowing for everyone; Subaru had a 94 month month over month sales increase that was broken in September.
(2) The other Big 2 have a lot of cash on their hoods; RAM has 7K and GM is running I think something like 15K on the hoods of their brand new for 2019 pickups. Ford does not; they are going over profit, not market share, which in the long run is a good plan.
Happy Hackett and company went all in on the large truck segment. This is just the beginning of a run of underperforming Qtrs. Smart move k–ling the Focus / Fusion. I see Toyota and Honda hiring at there US car facilities.....
As far as the F150, they have made that truck SO large most cannot effectively drive it nor park it. And unless you have a pole barn, it doesn't fit in many garages. Personally, I think it's a ridiculously over-sized truck to drive around the city. It should come with two bedrooms and a bathroom for most to afford.
Yikes. With the lack of new/any car programs and the move towards simpler electric vehicles - and the many non-fully engaged employees that are currently on the payroll, they could cut another 30+% in the near future.
Look at the recent articles from the UAW - they see what is coming!! They estimated a 30-40% reduction in plant workers due to electrics.