Auto sales remain weak in July: Ford executive
|
|
|
| Posted
:
Tue, 22 Jul 2008 16:05:03 GMT |
| By
:
Reuters |
| Category
:
US (Business) |
| News Alerts by
Email ( click
here ) |
|
US Business News |
Home
|
|
|
|
RICHMOND, Indiana (Reuters) - Auto sales have remained weak in July and reflecting the trend in shifting demand toward smaller vehicles, Ford Motor Co's president of the Americas said on Tuesday."We continue to see industry weakness and at this point our main goal is to make sure we stay on top of the industry signs and react accordingly," Mark Fields told reporters at an event celebrating the centennial of Ford's Model T.Fields also said it was not possible to predict when U.S. auto sales would bottom. U.S. auto sales have been tracking at a more than decade low in 2008, pressured by U.S. economic uncertainty and a sharp rise in gasoline prices.Fields also said Ford remained on target to complete $5 billion of operating cost reductions and trimming salaried expenses by August 1. The company had said previously that it would cut 15 percent of its salaried costs.(Reporting by David Bailey; Editing by Brian Moss)
(c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
|
|
|
|
|
|
Related News
Wall Street stocks gain on optimism for US economy
New York - US stocks rose Wednesday after three separate reports offered signs that the US recovery is gaining steam. Consumer spending and new home sales rose more than expected in October, while weekly jobless claims dropped to their lowest rate si...
Washington Post shutters all US bureaus outside capital - Summary
Washington - The Washington Post will close its remaining domestic bureaus outside the US capital, the paper said Wednesday, in an attempt to cut costs in the prevailing economic climate. The daily said it would close bureaus in New York, Chicago and...
Washington Post shutters its remaining bureaus outside US capital
Washington - The Washington Post will close its remaining bureaus outside the US capital, the paper said Wednesday, in an attempt to cut costs in the prevailing economic climate. The daily said it would close bureaus in New York, Chicago and Los Ange...
FDIC: 'Problem' banks at 16-year high in US
Washington - The number of US banks in danger of collapse has risen to the highest level in 16 years, a government regulator reported Tuesday in a sign that the country's worst financial crisis in decades is still lingering. The Federal Deposit Insur...
American shoppers lace up racing shoes for Black Friday
Los Angeles - Up to 134 million Americans are expected to splash out with their cash when the holiday shopping season kicks off on traditional Black Friday. The National Retail Federation Tuesday said it anticipated that the easing recession will sen...
US stocks edge lower on revised growth figures
New York - US stocks fell slightly on Tuesday as government figures showed that last quarter's economic rebound was smaller than initially thought. The Commerce Department in an updated estimate said the economy grew at an annual rate of 2.8 per cent...
US economic rebound smaller than thought; Fed optimistic - Summary
Washington - The US economy's rebound from a deep recession was smaller than initially thought, according to new government figures Tuesday, while the Federal Reserve said it expects the country's recovery to pick up...
|
|
|
|
|
|
|
|
