August 11th, 2011 | Forbes
We are cautious on auto makers including Ford in the near term given the several macro headwinds hammering the global markets that could negatively affect consumer and business sentiment including vehicle sales growth. Even though we are bullish on Ford’s fundamentals as the company managed to grow its vehicle sales in Q2 due to its refreshed fuel-efficient product line-up and investment in new technologies, the company will suffer if the auto market slows down meaningfully.
August 10th, 2011 | Wall Street Journal
The auto industry isn’t taking its foot off the gas in the wake of the turbulence on Wall Street, at least not yet. Auto makers, dealers and industry analysts are all still expecting the pace of new-car sales to pick up in the second half of the year, undeterred by recent stock-market gyrations. “The only question is the rate of the recovery in auto sales, not if there is going to be a recovery,” Michael J. Jackson, chairman and chief executive of AutoNation Inc., the country’s largest chain of car dealerships, said during an interview.
August 10th, 2011 | The Detroit News
More than 151,000 American workers are building components for fuel-efficient vehicles and that number could grow significantly as the U.S. continues to embrace new generations of fuel-efficient cars and trucks, according to a study released Tuesday. The report, jointly produced by the Natural Resources Defense Council, the National Wildlife Federation and the United Auto Workers, noted that Michigan is home to the most “green” auto jobs, with 38,067 workers in 97 facilities. Ohio trails Michigan with 13,753 jobs in 28 facilities.
August 9th, 2011 | The Detroit News
It may take time for the auto industry to feel the impact of economic turmoil because experts don’t expect interest rates on auto loans to increase immediately and the popularity of leasing should continue to grow. But consumer confidence, already battered, has taken another blow with a downgrade of the U.S. credit rating, and many now think U.S. auto sales will fail to reach 13 million this year, as analysts and automakers have projected.
August 9th, 2011 | Associated Press
The top executive at General Motors Co. is having doubts about whether U.S. auto sales will recover this year as expected, even as the stock market rebounded a bit Tuesday from its huge losses. Speaking to industry analysts about GM’s long-term financial plans Tuesday, GM Chairman and CEO Dan Akerson said the company is sticking with its U.S. sales forecast of around 13 million cars and trucks for the year, but he’s not certain sales will make it that high.
