RSS RSS Twitter Twitter
Leftlane - news, reviews, and info for the auto-industry
 
 

Ford reduces 2008 outlook again

07/24/2008, 5:18 PM

By Drew Johnson

Following Ford’s announcement that it had lost $8.7 billion in the second quarter, the Blue Oval has once again cut back its 2008 sales and production forecasts – marking the fourth such reversal this year.

Ford now predicts that U.S. auto sales will total between 13.7 million and 14.2 million units this year, according to Automotive News. Ford’s low end prediction of 13.7 million is the lowest in the industry.

General Motors has set a U.S. industry forecast of 14 million units, while Chrysler hasn’t publicly adjusted its figures. In March, Chrysler CEO Bob Nardelli said Chrysler was planning on a 15.5 million unit year.

Although things look bad now for Ford – as well as several other automakers — Ford CFO Don Leclair thinks that things will get worse before they get any better. “I would think of this year as strongest in the first quarter, a little bit less in the second and then going down in the second half and then the mirror image of that next year,” Leclair told Automotive News. “So as you come out of next year, from 2009 into 2010, that’s when we think things will be better.”

Ford’s new targets for the third and fourth quarters are off 35 and 22 percent, respectively, from the same periods last year.

    Print This Post

New car price quote

Zero obligation price quote from a trusted local dealer.
 
 

07/24, 5:24 PM

posted by:

xyunya

Here is an optimistic view: it will get get worse and then they go really bad – moneys gone.

07/24, 5:31 PM

posted by:

ihustle

Ford now predicts that U.S. auto sales will total between 13.7 million and 14.2 million units this year, according to Automotive News. Ford’s low end prediction of 13.7 million is the lowest in the industry.

General Motors has set a forecast of 14 million units, while Chrysler hasn’t publicly adjusted its figures. In March, Chrysler CEO Bob Nardelli said Chrysler was planning on a 15.5 million unit year.

Whats funny is GM owns 6 more companys then ford and they only predict that they’ll sell 800,000 more units, very sad. Chrysler’s goal is definately far-fetched and Bob Nardelli is going to look like a douche when they only sell 5 million units. That makes me smile :)

07/24, 5:35 PM

posted by:

Madcapp

You makes your bed, you lie in it. Try building reliable, non-crappy cars that people want to buy.

07/24, 5:42 PM

posted by:

mayer_ray_nagin

Unit sales wont break 13.6 million in 2008. The first half ran at a 12.5M annualized run rate. Sales would have to suddenly jump up 20% over the first half and average basically over 15M in the second half to get the total for the year in the high 13s. I see no reason to believe consumer sentiment will rocket that high in the second half over the first. Nothing new is coming out that is so desirable, gas will not drop a buck by August, and people are nervous.

07/24, 5:44 PM

posted by:

Impulsive

Now where’s that tool, ‘NoNameDufus’? I remember his SHIAT talk believing things weren’t as bad as I predicted things would be … and it’s only starting. All manufacturers will suffer over the next few years, not just Ford. Buy gold, seriously. Thank me later.

07/24, 5:45 PM

posted by:

chester

buy Smith & Wesson stock

07/24, 5:46 PM

posted by:

xyunya

ihustle, take a class on reading comprehension: the numbers are totals for all industry not for one company. BTW, does Ford management are higher achievers then GM because they screwed up only 3 divisions instead of 6?

07/24, 5:47 PM

posted by:

beatusmongous

I don’t know, Mayer. Sales go up at Christmas time, don’t they? Just make sure you don’t get your daughter a red car when she really wants a blue one:

http://youtube.com/watch?v=e59XIFU6oz0

07/24, 6:21 PM

posted by:

howsmydriving

Ford = a four letter word for BORING.

07/24, 7:07 PM

posted by:

inline6

beatus, sales go way down at Christmas.

Sorry, ihustle, Ford won’t sell 13.7 million in 2008, the whole INDUSTRY will. Ford will sell maybe 2 million between their 4 car divisions in 2008. From Jan-June, Ford’s sold less than 1.15 million (including Volvo). GM’s sold 1.58 million so far, so they stand to be close to a million higher than Ford by year-end.

07/24, 7:53 PM

posted by:

Robert

Toyota = a six-letter word for dead?

07/24, 7:59 PM

posted by:

beatusmongous

Dang, Inline6, I guess I just thought that since I usually buy around that time, everyone else did, too. But then they are probably saving for other stuff. And I don’t buy cars for presents (I wish I could), I just happen to shop at that time whenever I need a car. It’s unexplainable, other than coincidence. But I’ve found some pretty nice deals during that time, which is good.

07/25, 5:49 AM

posted by:

The Stig

Mark Fields proves, once again, that he’s completely full of hot air. Ford could replace him with a chimp and get the same results – and save big since the chimp won’t abuse the corporate jet.

07/25, 8:25 AM

posted by:

ihustle

*Inline* Whats sad is GM owns twice as many companys and there not that far ahead

07/25, 9:30 AM

posted by:

xyunya

Stig, chimps don’t style hair in mullets. Ford will loose.

07/25, 9:31 AM

posted by:

xyunya

Actually, GM is far ahead in sales. In may and June, Ford did not follow GM, it followed Honda in US sales.

07/25, 9:40 AM

posted by:

RaineMan

It’s too bad that all the manufacturers in Detroit are run by complete idiots. A blind retard could have looked at the way things were going with the petrolium market back in 2006 and recognised that a shift away from trucks & SUVs was coming. When Katrina hit and gas crossed $3/gal for the first time they all should have been able to hear the death knell for their overpriced gas guzzlers… and now they want the government to bail them out? I don’t think so. This is the punishment they get for not being smart about business.

07/25, 10:04 AM

posted by:

shaver

Hindsight is 20/20. If anyone here new fuel was going to shoot up like it has and did not retire using that knowledge in the futures market and is now here bragging about it STFU. NIce move.

07/25, 12:30 PM

posted by:

inline6

RaineMan, think for just a moment…

It takes a car between 3 and 4 years to go from drawing board to Job 1 (The only reason it seems like the Camaro is taking forever is because we’ve seen it at every stage of development…from drawing board to job 1). If everybody realized what they were supposed to do in 2006, the earliest their more fuel-efficient vehicles would be coming out would be 2009.

And look! GM’s GMT900 hybrids, the Vue 2-mode, a 37mpg Cobalt/G5, etc. are here! So are the more fuel-efficient Lambdas, which are getting even more efficient for 2009. And the Volt and Cruze are coming in 2010. Not to mention the fact that GM already had the most fuel-efficient trucks/SUVs in 2006, and came out with mild hybrids in 2007.

However, Kia’s introducing the Borrego, which is a BOF midsize SUV while everyone is moving to crossovers. And Toyota’s given us the Sequoia and Land Cruiser/LX570, which took a step backward in fuel economy in 2008.

07/25, 1:12 PM

posted by:

inline6

And ihustle,

Ford may own fewer brands than GM, so their sales per brand might be higher, but Ford 1) doesn’t really have a true luxury division, 2) doesn’t have as many niche-market brands.

Hummer and Saab are niche brands. The truth is, the Chevrolet and Ford brands sell about the same overall. GMC sells more than twice the amount Mercury and Lincoln do, combined. Pontiac outsells Mercury and Lincoln combined, too. Buick outsells both Lincoln and Mercury, despite the fact they only have 3 vehicles. Saturn outsells them both, too.

Honda only has two brands, and Toyota has 3, but both they’re outselling Ford’s 4 brands combined.

GM may have 8 brands (Ford had 6 until a couple of months ago, btw), but a million more units is a million more units, and that is massive.

07/25, 2:13 PM

posted by:

xyunya

shaver, the price of fuel went up very gradually. In 2002 it was about $1.25, in 2003 $1.75 so there was enough warning since. Nobody in 2003 said that fuel prices will go down. Why execs did not listen or did not act is question for investors to ponder.

07/28, 9:21 AM

posted by:

ihustle

INLINE Buick does not outsell lincoln and mercury. Im looking at the #S AS i type. Neither does pontiac. I dont know where you get you information from but it is way off. Thanks for trying though ;)

 
 
You need to log in with your user name and password before you can leave comments.

    

Forgot your Password?

Don't have a user name yet? Simply fill in the form below and click the link provided in the
confirmation email. You must supply a valid email address to complete the registration process.

  
 
 
 
  • Login
  • About
  • Contact
Please note that you need to log in with your user name and password before you can leave comments.
  

login
cancel
Forgot your Password?
Don't have a user name yet? Click here to register now.

Simply fill in the form below and click the link provided in the confirmation email. You must supply a valid email address to complete the registration process.

  
submit
cancel
Leftlane is the leading source for automotive industry and vehicle news, new car research, future vehicle information, and reviews. Read by car shoppers, driving enthusiasts, autoworkers, executives, and investors, the website is updated throughout the day with the very latest auto news - as it happens.

Leftlane also provides consumers with accurate and media-rich information on every car currently on the market. In-market shoppers can review specs, read overviews, view high-resolution images, watch videos, and estimate pricing. No other automotive publication brings together the same degree of timeliness, thoroughness and accuracy as Leftlane.
 
submit
cancel