Ford, Lincoln and Mercury vehicle sales were down 13 percent versus a year ago in the month of July. Ford Analyst, George Pipas says this is in line with industry-wide sales and the overall market share.
to hear audio. Use right mouse click to download.Cut# 1:
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" I think the important point now is that the industry has reached yet another new low level in terms of sales in 2008." :10 sec. |
According to Pipas, the sales situation has deteriorated since the beginning of the year and month-by-month, there has been a slow, but steady decline in sales reflecting the slowing economy. |
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| Cut# 2: |
"The industry seemed to be traveling at annual sales rate of about 15 million in the first quarter, recall that for a period of about eight years we were around 17 million about 14 million sales rate in the second quarter and now it looks like the sales rate in July is in the 12-13 million range." :18 sec. |
| With that said, Pipas went on to forecast what they foresee happening for the remainder of 2008. | |
| Cut# 3: |
"We expect the second half of the year the sales rate will be about 13 and that the full year, including the 15 in the first quarter and the 14 in the second will be in the 14 to 14 and a half-million range." :13 sec. |
| On a much brighter note, Ford's redesigned Focus continues to surprise auto industry watchers and customers alike with sales up 26 percent compared to the rest of the small car market which is up nine percent, over the same period. |
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| Cut# 4: |
"As we know the small car segment is growing, but Focus has outperformed the entire small car segment industry-wide by almost three-to-one, in terms of sales growth." :10 sec. |
| Pipas says revenue growth has also outpaced the industry, meaning transaction prices, year-to-date for the Ford Focus have increased substantially. |
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| Cut# 5: |
"Over the entire seven month period average transaction prices have increased about 750 dollars at times we have been over a 1,000 dollars over the previous model, so what we're finding is, particularly with people that are trading for Focus, since many of them are coming from higher end products, seeking more fuel efficiency, they take with them certain features, equipment and technology that they enjoyed when they had a larger vehicle." :30 sec. |
| Leasing at Ford will continue according to Pipas, but changes will have to made to reflect the value of certain vehicles based on market conditions. | |
| Cut# 6: |
"Right now today, about 17 percent of the industry is involved in leasing it has been trending down as manufacturers begin to understand what was going on in the truck and SUV market. It's still going to be a part of our business, we want to offer leasing to customers, and as I said in certain regions of the country and for certain vehicles it's a more important part of the proposition." :24 sec. |
| Ford's full-year industry sales forecast is a range from 14.0 to 14.5 million vehicles including medium and heavy trucks. |