NINETY EIGHT REGENCY

Ford is failing to meet its retail sales goals

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Ford is failing to meet its retail sales goals

ASSOCIATED PRESS

2/17/2007

SAN ANTONIO - Ford Motor Co. executives conceded in a report to employees that the company is failing to meet key goals in its turnaround plan, two media organizations reported Friday.

Ford said in the report that it missed its U.S. retail sales goal for the compact Focus in January by 10,600 vehicles and now expects to miss its retail market-share goals for February and March.

It also will miss its targets for February and March for reduction in material costs by a 15 percent to 20 percent margin, though it hit the goal of $400 million in savings in January, the news organizations reported, citing the internal report.

On Friday, Ford's shares closed down 7 cents to $8.53 on the New York Stock Exchange.

Fewer than half the company's employees surveyed are confident in Ford's long-term success, according to the internal memo.

But Mark Fields, Ford's president of the Americas, told the Associated Press on Friday that employees were understandably nervous given the $12.7 billion loss reported for 2006 and its effort to cut tens of thousands of jobs.

"The good news is the trend we show . . . that the morale surveys are heading in the right direction," said Fields, who was in San Antonio to speak to the chamber of commerce. "You'd expect it to be tepid right now."

Fields came to San Antonio, the home of Toyota Motor Corp.'s newest U.S. assembly plant, to tell business leaders that domestic automakers remain an important part of the economy. Toyota opened a Tundra truck assembly plant here last year.

"It concerns me that too many people downplay the importance of the homegrown auto industry," he said.

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ehaase    18

Without fleet sales and with lower incentives, I wonder what Ford's natural sales level would be and whether Ford needs even fewer plants than planned in the latest Way Forward.

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ocnblu    733
Not good... c'mon Ford, we love you. You started it all on a large scale. We can't lose you now. :unsure:

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RJB    0

One of our local Ford dealerships here in Michigan which was one of the biggest and longest standing ones went of business recently. I was wondering why the lot was getting emptier and emptier everytime I drove by. The local paper then broke the news, I guess some employees are trying to sue for money because the dealership kept telling them there was nothing wrong and they said they could have looked for another job instead of them lying to them.

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maxximus1    0

and then there was one. well i'm glad i picked the right team to root for. chrysler is rumored to be bought out by gm and i just read that hyundai is insterested with them too. its just a matter of time for ford the way cord, studebaker and duesenberg went to car heaven.

this is just like that old 1993 movie "demolition man" where EVERY restaurant was a taco bell due to them winning the restaurant wars in the future.

Edited by maxximus1

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and then there was one. well i'm glad i picked the right team to root for. chrysler is rumored to be bought out by gm and i just read that hyundai is insterested with them too. its just a matter of time for ford the way cord, studebaker and duesenberg went to car heaven.

Don't say that lol. But really.. Ford and Chrysler both need to survive. too many american car makers have gone out of business and I dont want to see GM be the only one left.

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Intrepidation    846

Funny how a lot of people say "good luck Ford" C'mon Ford" yet in the Chrysler thread it's basically "f@#k Chrysler".

They should both survive.

Edited by Dodgefan

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BB_454    0

Funny how a lot of people say "good luck Ford" C'mon Ford" yet in the Chrysler thread it's basically "f@#k Chrysler".

The should both survive.

I have been pulling for both of them. I would hate to see two great American icons bite the dust. I can think of numerous vehicles from both companies that I love, yet cant think of one Toyota that I could even remotely like.

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I hope Ford and Chrysler both survive, with them being my #3 and (closer) #2, respectively (and GM of course being #1), but it is their own doings with all the little and big compromises in their products.

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