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Ford’s Slumping Sales

Ford Motor Co. reported a 48% drop in U.S. light-vehicle sales during the month of February.  Declining sales are attributed to a lack of consumer confidence, resulting in declining showroom traffic at dealerships across the country.

Ford is the only member of Detroit’s Big Three automakers that has not accepted government assistance, during the current recession.  Ford also announced an intended 38% decline in output, during the second quarter, to keep pace with reduced demand.

The industry downturn has forced General Motors Corp. and Chrysler LLC to seek U.S. government assistance, and has also threatened the future of other auto industry standouts, notably Toyota Motor Corp.

“The economic and competitive environment remains challenging,” Ford sales executive Ken Czubay said today.

Sales fell to 99,050 compared to 192,178 a year earlier.

GM and Chrysler will most likely post similar numbers later today.

Data from WSJ. (Kingsbury)