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post #1 of 2 (permalink) Old 09-08-04, 02:19 PM Thread Starter
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US:Ford: Gasoline prices hurting big SUV sales

Ford: Gasoline prices hurting big SUV sales

Reuters / September 08, 2004

DETROIT -- High U.S. gasoline prices are hurting the sales of one of Ford Motor Co.'s highly profitable sport utility vehicles, the automaker said on Wednesday.

Sales of the Ford Expedition, a full-sized SUV that gets about 16 miles per gallon, fell 23 percent in August and are down nearly 13 percent year-to-date despite heavy consumer incentives. Ford offers $4,000 cash back on the SUV, which received a major make-over two years ago.

"Expedition, of course, is down," said Ford Division President Steve Lyons. "By and large I think that is a by-product of fuel prices."

While Lyons only referred to the Expedition, sales of other big SUVS have also been disappointing this year.

Sales of the gas-thirsty Ford Excursion -- a lightning rod for criticism from environmental groups -- fell 44 percent last month and are down 20 percent year-to-date.

Sales of General Motors' bulky, gas-guzzling Hummer H2, which gets about 13 miles to the gallon, fell 11 percent in August, meanwhile, and are down 21 percent year-to-date.

The aging Chevrolet Suburban SUV, also from GM, saw its sales fall nearly 33 percent in August.

"Overall there has been a little pressure on the industry," Lyons said, referring to the high gasoline prices.

Detroit's Big Three automakers all make a major share of their automotive profits from sales of truck-based sport utilities and pickup trucks. And all have sought to play down the impact of higher fuel prices so far this year.


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post #2 of 2 (permalink) Old 09-08-04, 02:30 PM
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Re: US:Ford: Gasoline prices hurting big SUV sales

and i had to go and buy a 428 big block LOL anyone got fuel coupons ???

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