Ford Motor expects new car and truck sales in the US in June to be the same as in May.
Ford North American President Mark Fields said that since the economy remains mixed, the company expects new car and truck sales to range somewhere around 13 million units. Ford sold 13.8 million units in the US in May. Fields added that the US economy will remain mixed until the end of this year, with weaker consumer confidence and increased housing starts. But this will not make Ford limit vehicle production.
“We will continue to match production with demand and will react to the market,” Fields said.
In May the overall auto sales finished at 1,334,600 cars and trucks, up 26%, but taking into consideration the rate at which cars were sold gives an annual pace lower than the 14.4 million from March and April. Industry officials believe that the lower rate was due to the warmer-than-expected weather that attracted buyers into dealer showrooms, and pulled sales from the spring shopping season.
“Obviously, the economy’s probably slowing a touch,” said Gary Bradshaw, a portfolio manager with Hodges Capital Management, which owns Ford shares. “I still think that car sales will continue to improve from last year, but it’s going to be a struggle. There are plenty of headwinds in front of us.”