Posted on 08/03/2004 10:37:35 AM PDT by Pikamax
Ford sales slip slightly in July; Porsche, Nissan rise
By Shawn Langlois Last Updated: 8/3/2004 1:17:59 PM
Porsche, Nissan post increases in U.S. sales
SAN FRANCISCO (CBS.MW) -- Ford said Tuesday its monthly sales in the United States dipped again in July, while both Porsche and Nissan showed marked improvement from a year ago.
As a whole, automakers are expected to post a "sharp" rebound in sales after June's steep swoon, according to analysts at UBS who explained that the surge was primarily driven by incentives. Discuss the auto sector.
Ford Motor (F) kicked off the slew of expected tallies, posting a 4 percent decline in July U.S. sales to 285,204 vehicles across all its brands, compared with last year's figures. Ford-brand sales fell 3.7 percent to 234,253 units.
The month was Ford's best for retail sales so far this year, according to the company, as F-series truck sales rose 15 percent.
"Consumers are back, and they brought their wallets with them," said Jim O'Connor, vice president of North America marketing, sales and service, in a statement accompanying the numbers.
Shares of Ford shed 29 cents, or 2 percent, to $14.76 in midday trading.
Overall, truck sales increased 2 percent while passenger cars slumped by 16 percent. Ford said production of the Escape hybrid SUV began Monday in Missouri.
Volvo sales grew nearly 6 percent, propelled by the S40 model, while other Premier Auto Group brands Jaguar and Land Rover slipped more than 21 percent.
Commenting on Ford's month before the official figures were released, Joseph Amaturo, an analyst at Calyon Securities, added that "GM (GM) has been quite aggressive on the incentives front, and foreign brands are also attacking from the other direction."
Porsche rides Cayenne, Nissan surges
Porsche said that its July U.S. sales rose 6 percent from last year to 2,705 vehicles. Cayenne SUV sales totaled 1,393, a slight increase from a year ago.
The month also marked the end of Porsche's fiscal year, with a total of 32,763 vehicles sold (including 17,457 Cayennes), representing a 32 percent increase from the prior year.
Separately, Nissan (NSANY) announced that its July sales surged 31 percent from last year to 93,297 vehicles. Nissan brand sales totaled 80,935 vehicles, a 35 percent increase, while sales at its Infiniti luxury division rose 10 percent to 12,362.
Nissan Motor shares shed 15 cents to $21.37 after the report.
Porsche is disounting those Cayenne's heavily. And I have seen some ads for the 911 going at or below invoice now, to get rid of the remaining ones before the improved 911 comes out in the fall.
My family has a saying, "Friends don't let friends drive fords."
We just picked up a 2004 Explorer. We traded our 1998 Explorer with 120,000 miles.
Sorry. My condolences.
I have nothing but Fords. I have been considering tring my truck for a new one, another F-250.
I am starting to think GM and Ford should get out ot the passenger car business. Ford Taraus and Crown Victorias are ugly looking cars. Sorry, but the Japanese have a better sudan in the Honda Accord, Toyota Camery, etc.
Go to new American car lot down here and trucks/SUVs occupy about 80% of the lot.
I had a 2000 f150 ford once, (I know stupid mistake;(.) It was hit at 20 mph and totaled out from such a small hit. I go a good look at the way it was built, total crap.
Ford lovers - One little word blows it for ya: Aerostar !
I have a Jeep cherrokee, my dad has a Jeep liberty. Both are the best utes I have ever seen.
I did my part for GM in July. Bought a 2004 Pontiac GTO.
or even TRADING
We had always bought GM but wife liked the 98 Explorer when we lived in the Twin Cities. The 98 was an excellent vehicle with no major failures in 120 K. Every 30,000-35,000 miles, an exhaust sensor would burn out and a light on the dash would come on...this was a $110 fix. We bought a second one because the first one was really good.
Several years ago, we decided to "buy American" and snagged ourselves one; within 2 years (which included two entire drive train - transmission changes, a total electrical system failure, and a $10,000 loss in value) we were back riding the Land of the Rising Sun - and ain't lookin' back!
Once burned, twice shy...
Yea, ok.
I had a '96 Bronco and was rear-end by a semi in the freeway. Broke the back out of the drivers seat. I don't recall what the repair bill was, but it weren't near "totaled".
Drive Chevys at work. OK I guess if you don't mind the peeled paint and rusted body panels. I guess Chevy parts are some cheaper, maybe a volume thing?
Like it ?
The new fords are beer cans on wheels. They will crush accordingly.
Oh yeah. Beefy as the ones from the 60's.
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