September U.S. Auto Sales
Ford Says Sales Fell 34% in September

Richard Truett

Ford Motor Co. posted a dramatic 34 percent drop in U.S. sales in September as tightening credit and the nation's financial crisis kept buyers away from showrooms. The decline was the 10th straight monthly drop for Ford, the longest streak among major automakers. Volkswagen fell 9.4 percent.

Ford said its Ford, Lincoln and Mercury dealers reported total sales of 116,734 in September, down 34 percent from September 2007. September was the lowest sales month of the year so far for Ford, the automaker said.

"Consumers and businesses are in a very fragile place," Jim Farley, Ford group vice president of marketing and communications, said in a prepared statement. "An already weak economy compounded by very tight credit conditions has created an atmosphere of caution."

The results reinforce projections that the industry may report a 20 percent decline from year-earlier levels when automakers' results are tallied later today. Analysts surveyed by Reuters and Bloomberg estimated an annual sales rate of 13 million to 13.5 million vehicles, down from 16.5 million in September 2007.

Press Release: Ford Reports September Sales
http://blog.teamvelocityonline.com/FordReportSeptemberSales.pdf