Ford: We're No. 2 in Sales

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City of Industry, CA --(www.USEquityNews.com)-- 07/02/2009 - Auto Manufacturers industry alert provided by U.S. Equity News. View Bio More Articles by This Author RSS | Email Ford(F Quote) reported its smallest sales decline in 11 months, making it the country's No. 2 automaker in June and raising the possibility that it could move to the top spot. Ford, Lincoln and Mercury sales totaled 148,153, while Toyota sales were 131,544. GM sales for Buick, Cadillac, Chevrolet, GMC and Pontiac totaled 167,194. GM plans to close Pontiac, but expects to retain much of the sales volume. On a sales call with analysts and reporters, Mark LaNeve, GM's vice president for North American sales, speculated that Ford could surpass GM as the country's top automaker. "We'll have four brands, they'll have three (and) the number of dealers will be almost identical," he said. But LaNeve, like Ford sales executives, stressed that the goal is to be profitable based on selling the best vehicles, not to outrank another manufacturer in sales totals. That is the old, failed model, and the auto industry is changing quickly. [Read the full article]


View Bio More Articles by This Author RSS | Email Ford(F Quote) reported its smallest sales decline in 11 months, making it the country's No. 2 automaker in June and raising the possibility that it could move to the top spot. Ford, Lincoln and Mercury sales totaled 148,153, while Toyota sales were 131,544. GM sales for Buick, Cadillac, Chevrolet, GMC and Pontiac totaled 167,194. GM plans to close Pontiac, but expects to retain much of the sales volume. On a sales call with analysts and reporters, Mark LaNeve, GM's vice president for North American sales, speculated that Ford could surpass GM as the country's top automaker. "We'll have four brands, they'll have three (and) the number of dealers will be almost identical," he said. But LaNeve, like Ford sales executives, stressed that the goal is to be profitable based on selling the best vehicles, not to outrank another manufacturer in sales totals. That is the old, failed model, and the auto industry is changing quickly. [Read the full article]

NEW YORK (AP) -- Automotive parts supplier Lear Corp. said Wednesday it is preparing to file for Chapter 11 bankruptcy protection and has lined up financing to fund its operations while under court protection.

Lear, which makes automotive seating systems and electronics, said it is still negotiating with lenders and bondholders for additional support for its restructuring plan. In the meantime, the company said it has a commitment for $500 million in loans to finance its bankruptcy from a group of lenders led by J.P. Morgan and Citigroup.

Lear spokesman Mel Stephens declined to say how many of its lenders are board with the Chapter 11 plan, how much more support it is seeking or when or where the Southfield, Mich.-based company plans to file for court protection.

"We intend to complete the restructuring as quickly as possible and emerge as an even stronger and more competitive partner to our customers," Lear CEO Bob Rossiter said in a statement. [Read the full article]

It's all about the luxury of choice. Lincoln customers now can treat themselves to an even more luxurious MKZ with the arrival of the Executive Appearance Package later this summer as Lincoln expands its popular MKZ luxury packages. With genuine walnut appointments on the console and instrument panel accents, the new package reflects the upscale look Lincoln is known for. Other highlights of the package include luxury leather-trimmed seats, unique door trim with stitching and premium floor mats with the Lincoln star. more...

The enthusiast community already is abuzz about the new Ford Fiesta Rallycross cars, and the excitement will build with news that three Fiestas will be competing in the world's premier action sports showcase - ESPN's X Games 15. The high-visibility event, in Los Angeles, Calif. [Read the full article]

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