Ford official says auto industry is stabilizing

[groundloop]

Source: MSNBC

CHICAGO - An executive at Ford Motor Co. said the U.S. automobile industry is beginning to stabilize, after months of freefalling sales which have threatened the viability of some of the sector's biggest players.

Jim Farley, Ford's global marketing chief, said Wednesday that seasonally adjusted retail sales demand has held steady for the past four months. Meanwhile, the country's used car market has come "roaring back" since January.

"That shows me that credit's available," he said, following a Ford presentation at the Chicago Auto Show. "When we're seeing the kind of growth in the used car market that we've seen in the last six weeks, that is a really important milestone for the bottoming out of the industry."


But on the heels of another calamitous month for the sector — U.S. new car and truck sales fell 37 percent in January, hurt especially by poor sales to rental car companies — few are willing to say whether or not the industry's seen the worst of the recession's impact.

Still, auto industry analyst Erich Merkle said he thinks the industry may have reached finally reached a tentative plateau, particularly if labor markets can stabilize.


Read more: http://www.msnbc.msn.com/id/29144685/

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Maybe some good news.

[madaboutharry]

1. The housing market has to stablize in order

for things to get better.

[mystieus]

2. nevertheless, this is good news.

[PM Martin]

3. It would be horrible if the auto industry went down.

That would cause a depression.

[Xipe Totec]

4. It's stabilizing... Bottoming out.. Straightening... Smoothing...

Flattening.... Flat Lining.

[SammyWinstonJack]

10. Flat Lining is more the reality. I know first hand.

[kestrel91316]

5. People are less afraid of spending money since Obama was elected.

I am noticing a change in attitude of my clients, and a change in their spending.

I am cautiously optimistic.

[percussivemadness]

7. I have to say, we`re noticing a lot more positive attitude amongst our clients

as well...

we`ve already beaten last years turnover in contracts, all from the American marketplace, and last year wasn`t a bad year for us.

we felt the downturn long before anyone else, i don`t think we`re out of the woods, but, I am cautiously optimistic about 2009. Housing is the key, personally, I would make that a priority were I advising Obama, and although they are scum, I do feel some kind of agreement with the banks that forces them to honour existing obligations would not go amiss. I know of a prominent law firm, still growing, that for some inexplicable reason, has had all their credit lines cut. The owner told the bank to go f**k themselves, I hope this is the start of a trend. It is only when the banks realise they can`t get away with this shit that they will start playing ball again.

[Doctor_J]

6. Between $1.65 gas and Smirk getting the boot, I'm not surprised

:thumbsup:

[Angleae]

8. $1.65 gas???

It's $2.25 here.

[Doctor_J]

13. I paid $1.75 on the Indiana Tollway last weekend

:thumbsup:

[Mojorabbit]

9. I find it hard to believe

seeing all those pics of cars parked in huge numbers all over the world because there is no market for them.

[RUMMYisFROSTED]

11. Maybe that's the "used car" market to which he refers.

:shrug:

[OhioChick]

12. If the auto industry is stabilizing...

Why did GM get rid of 10,000 salaried employees yesterday?