Ford's Sales Worse Than Expected
Ford’s (F) US sales for August were worse than expected, dropping 14.4%. Ford said it sold 218,332 vehicles last month, down from 255,112 a year ago, with a 33.7% drop in car sales leading the retreat. Rental sales fell 44% as part of the company’s plans to curtail the less-profitable business.
The company raised its fourth-quarter production targets by 6% from a year ago to 640,000 cars and trucks.
Ford’s shares rose 1% on the news
Douglas A. McIntyre