Ford's August truck sales up 10%
Sep 5, 2002 12:00 PM
Ford Motor Co. said that its August truck sales rose 10 percent, at 227,280, as interest-free loans and other incentives helped prop up demand. The world's No. 2 automaker, which is struggling to cut costs as part of a turnaround plan after a $5.45 billion loss last year, said overall August sales in the U.S. were up 12%, at 365,406 vehicles, including its foreign brands Jaguar, Land Rover and Volvo and some heavy trucks. Ford has suffered from a sharp drop in U.S. sales practically every month this year. Deep discounts to bolster sales, which Ford offers together with its crosstown rivals, helped cut its profit on every vehicle sold in the United States to $7.52 in the second quarter. The automaker set its fourth-quarter North American production estimate at 960,000 vehicles. It left its third-quarter North American production estimate unchanged from prior forecasts.
