US:Ford vehicle sales down 7 percent due to slump in truck purchases
Ford vehicle sales down 7 percent due to slump in truck purchases
Sarah Karush / Associated Press
DETROIT -- Ford Motor Co. sold nearly 7 percent fewer vehicles last month than in June 2005, as higher gas prices held truck buyers at bay, the company reported Monday.
But while sales of light trucks plummeted 14.6 percent, the company saw a bright spot in car sales, which rose 8.6 percent, as demand for the company's new mid-size sedans remained high.
In total, the company sold 269,404 cars and light trucks of the Ford, Lincoln and Mercury brands -- a 6.8 percent drop.
Ford has traditionally been stronger in trucks than cars, with the F-Series pickups a perennial best seller. But high gas prices are making success in the car market increasingly vital.
Ford said sales of truck-based sport utility vehicles have been declining across the industry for four years in a row, but until recently pickups were relatively immune from the phenomenon. However, pickup buyers now appear to be delaying purchases because of the pressure of high fuel costs, said Al Giombetti, president of marketing and sales for Ford, Lincoln and Mercury.
In a statement, Giombetti said the increase in car sales is "cause for optimism because it shows we can win in the industry's most competitive segment."
In the first half of the year, Ford's sales fell 3.8 percent, with truck sales sliding 9.7 percent and car sales rising 7.8 percent.
The Associated Press reports unadjusted sales figures, calculating the percentage change in the total number of vehicles sold in one month compared with the same month a year earlier. Some automakers report percentages that are adjusted for the number of sales days in a month.
Ford shares fell 21 cents, or 3 percent, to $6.72 Monday in early afternoon trading on the New York Stock Exchange.
My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.
My next Ford.....