Auto research firm Edmunds and other analysts say Ford’s (F) sales will drop as much as 18% in September. As one analyst quoted at MarketWatch said "New cars and trucks from other automakers, like GM’s line of big trucks and SUVs, are drawing buyers away from Ford."
GM (GM) and Toyota (TM) are expected to single digit sales drops due to a tough economy and high gas prices. Chrysler’s sales are expected to fall about 10%.
Ford’s problems are a by-product of the slow pace at which former CEO Bill Ford changed out the company’s product mix from pick-ups and SUVs to smaller, fuel-efficient vehicles.
Now, the chickens come home to roost.
Douglas A. McIntyre