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FORD WARNS VEHICLE PRICES WILL FALL
Financial Times.com ^
| 20 May 2003
| James Mackintosh
Posted on 05/20/2003 10:36:25 AM PDT by MeneMeneTekelUpharsin
Ford warned on Tuesday that the fierce price war in the US and Europe meant vehicles prices would fall further this year than it had planned.
The world's second-largest carmaker, said extra cost cuts above the planned $500m meant it would be able to offset falling prices and maintain its 70 cents a share earnings target, however.
TOPICS: Business/Economy; News/Current Events
KEYWORDS: auto; cars; fallingprices; ford
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Used car market falling really fast. Prices are coming down so fast it's making me nervous.
To: MeneMeneTekelUpharsin
So, Mr. Ford, I guess you're telling me *NOT*
to rush out and buy because prices are coming down?
To: John Beresford Tipton
Is this bad news?
3
posted on
05/20/2003 10:40:06 AM PDT
by
EggsAckley
( Midnight at the Oasis)
To: MeneMeneTekelUpharsin
Maybe it's finally time to look at some new cars.
To: MeneMeneTekelUpharsin
Maybe I've finally waited them out.
5
posted on
05/20/2003 10:41:11 AM PDT
by
Just another Joe
(FReeping can be addictive and helpful to your mental health)
To: MeneMeneTekelUpharsin
deflation, man... deflation.
You think it's bad NOW? LOL... "You ain't seen nothin' yet..."
Instead of ponying up $25K for a marginal sedan for my next business car, I'll buy a two year-old Corvette with <30,000 miles... gets 30+ MPG on the highway and still goes like a rocket-ship, removable hardtop, leather and all the rest of the goodies... Show me a new car- any new car- that offers that kind of a deal!!!
FReegards,
To: MeneMeneTekelUpharsin
I think ill just get late model used cars, they are cheaper and look just as good.
7
posted on
05/20/2003 10:41:49 AM PDT
by
smith288
(Why do liberals believe every ammendment is personal but the 2nd?)
To: MeneMeneTekelUpharsin
FORD: FIXED OR REPAIRED DAILY
To: MeneMeneTekelUpharsin
Be interesting to see how prices do on the new Ford pickup - it was designed primarily under the direction of Jaq Nasser, and is widely known to cost over $1000 more to build (per truck!) than the model it replaced.
Ford is hurting with that albatross around it's neck, but no cost was too great to get rid of Nasser.
9
posted on
05/20/2003 10:42:15 AM PDT
by
Redbob
To: Chi-townChief
Maybe it's finally time to look at some new cars. Did that a couple weeks ago. The dealer offered quite low on trade-in, same make, so no new car. The old car is just fine.
10
posted on
05/20/2003 10:42:29 AM PDT
by
RightWhale
(Theorems link concepts; proofs establish links)
To: MeneMeneTekelUpharsin
Look, the big three screwed the pooch after 9/ll with their collective 0% financing...all they accomplished was to accelerate three years future demand into one year....where they are REALLY getting hurt is in two areas..leasing, and used car sales...because as new car priced drop...used car prices, and the assumed residual value of cars coming OFF lease..fall further...the absolute best deals NOW are on luxury SUV's just coming off lease.....you can steal them..
11
posted on
05/20/2003 10:42:37 AM PDT
by
ken5050
To: Capitalist Eric
I remember reading where WalMart is experimenting in Texas with used car showrooms. They are intending to bring down the inflated prices in the used car market. If they commit, watch the used car market light up!
To: RightWhale
I have two '91s that I'll drive until they stop running so I'm not too concerned about trade-in allowance.
To: MeneMeneTekelUpharsin
Cars have been overpriced for years. They are now making cars that last longer and the used market has a glut. Supply, demand, and competition are taking place. This might give the big boys the move to set themselves apart and design new ideas for profit.
14
posted on
05/20/2003 10:45:09 AM PDT
by
bmwcyle
(Semper Gumby - Always flexible)
To: MeneMeneTekelUpharsin
Look at a chart of the price of automobiles since 1980. Looks like a bubble to me. But will the price of cars collapse anytime soon? Case closed! Ping !!
15
posted on
05/20/2003 10:45:53 AM PDT
by
AdamSelene235
(Like all the jolly good fellows, I drink my whiskey clear....)
To: MeneMeneTekelUpharsin
You are weighed in the balance and found wanting....and on that night, was Ford the king slain, and his kingdom divided.
It's my understanding that "off-lease" cars are now discounted to 50% of their projected value. In other words, if it came off lease with a PROJECTED value of $16K it's gonna sell for $8K.
And there's a LOT of iron sitting around Milwaukee-area used car lots.
16
posted on
05/20/2003 10:47:30 AM PDT
by
ninenot
(Joe McCarthy was RIGHT, but Drank Too Much)
To: CROSSHIGHWAYMAN
Look at a chart of the price of automobiles since 1980. Looks like a bubble to me. But will the price of cars collapse anytime soon? Case closed! Ping !!
17
posted on
05/20/2003 10:47:30 AM PDT
by
AdamSelene235
(Like all the jolly good fellows, I drink my whiskey clear....)
To: CROSSHIGHWAYMAN
Look at a chart of the price of automobiles since 1980. Looks like a bubble to me. But will the price of cars collapse anytime soon? Case closed! Ping !!
18
posted on
05/20/2003 10:47:30 AM PDT
by
AdamSelene235
(Like all the jolly good fellows, I drink my whiskey clear....)
To: MeneMeneTekelUpharsin
Ford is a company truly at the crossroads.
19
posted on
05/20/2003 10:50:11 AM PDT
by
ServesURight
(FReecerely Yours,)
To: EggsAckley
It would appear that his statement is not in his own company's best interest.
Aside from that, I'm neutral-take the subway.
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