It was a solid month of sales for cars and crossovers, as Ford Focus retail sales climbed 36 percent in February and the Crossover demand growth for the Ford Edge was up 46 percent and Lincoln MKX up 22 percent. Ford sales analyst Geoge Pipas says it's a significant surge in sales during these difficult economic times.
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Cut# 1:
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"This is where consumers are taking us, to passenger cars and crossovers. It's good to see the benefits from that forward planning in those two areas." :09 sec. |
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Pipas says, given these fragile economic times, it's encouraging to see Ford hitting the numbers in their overall plan. As for the Ford Focus that has been a real bright spot. |
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| Cut# 2: |
"That's been a surpirse, we keep raising the objectives, but the Focus keeps beating it. Overall, I think it's encouraging that we have hit our plan both our retail objectives and our fleet sales objectives, for us to be able to keep hitting our numbers is a very positive development." :18 sec. |
| Is this a barometor of what's to come? Pipas expressed cautious optimism, by insisting that we not get ahead of ourselves. | |
| Cut# 3: |
"One month at a time, everyday counts, this is an environment in which you can't get too far ahead of yourself. There's quite a bit of uncertainty about the current condition, exactly where the economy is and where it's going to be headed in these next several months, I think we just take one month at a time." :15 sec. |
| Total Ford Motor Company sales were down seven percent. However, so is the rest of the industry. |
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| Cut# 4: |
"About half of the decline, in fact over half, 60% of the delcine, is due to our planned reduction in daily rental business. So down seven percent overall the industry is probably going to be down at least seven percent we hung in there with the industry this month on a year over year basis despite the daily rental decline and despite the issues that we're seeing in the truck business." : 22 sec. |
| The recent economic stimulus package and interest rate reductions may have a positive effect, but Pipas still projects challenging times for everyone over the next half-year. |
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| Cut# 5: |
"So the next six months, I think that maybe not every month, but I do think that probably industry sales are going to track lower than a year ago for the next six months, and that may persist in the second half of the year as well, but maybe we'll see some indication of strengthening in the second half when the economic stimulus package has a chance to have an impact." : 23 sec. |
| Pipas fell short of making any stock recommendations, but did say the company is righting the ship in US sales, as indicated by a slight increase in market share the first two-months of this year. | |
| Cut# 6: |
"I'm very encouraged by what I've seen as we start the year. Ya know, Ford Employees might just take note that in the first two-months of this year our market share is slightly higher than it was a year ago. I don't know when the last time was that I was able to say that to people. That's not our goal, but it just so happens that our market share is higher through the first two months of this year, than a year ago, that hasn't happen in what long time…long time." : 32 sec. |
| In the second quarter 2008, the company plans to produce 10 percent fewer vehicles than a year ago, reflecting the current economic conditions. |