Ford's Sales Worse Than Expected

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Ford’s (F) US sales for August were worse than expected, dropping 14.4%. Ford said it sold 218,332 vehicles last month, down from 255,112 a year ago, with a 33.7% drop in car sales leading the retreat. Rental sales fell 44% as part of the company’s plans to curtail the less-profitable business.

The company raised its fourth-quarter production targets by 6% from a year ago to 640,000 cars and trucks.

Ford’s shares rose 1% on the news

Douglas A. McIntyre