Ford Optimistically Forecasts 11 Million Sales in 2009; Introduces Figo in India
September 23, 2009
Ford is forecasting an increase in sales through the end of this year and a further rise in the 
next two years.
Ford CEO Alan Mulally told reporters in New Delhi, India, where Ford was launching a new small car, that U.S. car sales will hit 11 million this year then rise to 12.5 million in 2010 and 14.5 million in 2011, the year Ford vows it will break-even.
"That's pretty optimistic for 2009," said Jessica Caldwell, Edmunds.com senior analyst. "The industry would have to average 1 million sales for the next four months to achieve Ford's predicted 11 million."
Edmunds.com forecasts full-year sales will come in just under 10.2 million. For the year through August 31, automakers in the U.S. have sold 7,048,897 vehicles.
Clearly, September will not hit the 1 million mark needed to achieve 11 million sales for the year. Edmunds.com's latest forecast calls for September to see the lowest Seasonally Adjusted Annualized Rate of the year at about 8.8 million vehicles in the Cash for Clunkers aftermath.
Edmunds.com will release its updated forecast on Thursday.
"The fundamental economy coming back is the absolute key," Mulally told reporters, as quoted by Bloomberg News.
The automobile market is looking "really good" currently, he added.
Mulally unveiled the Ford Figo, the automaker's first small car for the market in India, where it will be made. On sale next year, the Figo targets sales leader Suzuki, which has seven models in the segment and owns 50 percent of the market. Tata, Hyundai, Volkswagen and Toyota also have small cars in the category.
"We are entering the sweet spot of the Indian market," Mulally said.
In addition, the Figo is based on a key global platform for Ford, and Ford is positioning its Chennai plant in India as a regional center for excellence for small-car engineering and production, the automaker said in its statement. -- By Michelle Krebs, Senior Analyst and Editor at Large
Photo by Ford
Ford CEO Alan Mulally (left) and Michael Boneham, president and managing director, Ford India, show of the newly unveiled Ford Figo in New Delhi, India.
Posted by Michelle Krebs at 11:32 AM under Analysis , Ford | Comments (3) | digg this | Seed Newsvine
"Ford CEO Alan Mulally told reporters in New Delhi, India, where Ford was launching a new small car, that U.S. car sales will hit 11 million this year then rise to 12.5 million in 2010 and 14.5 million in 2011, the year Ford vows it will break-even."
Not going to happen. If this is how the Ford CEO thinks, its time to sell Ford shares.
Posted by: maitlandking | September 23, 2009 at 4:41 PM
Won't the hood stay shut without two guys to hold it down?
Why is the chief Executive Officer of the Ford Motor Company wearing Holstein print Zubaz?
This photo isn't from the official press release, is it?
Posted by: fulcrumb | September 23, 2009 at 7:02 PM
Sales for the year are likely to come in below 10 million units because of the pull-forward impact of C4C.
I don't expect to see 12.5 million before 2013.
Posted by: billddrummer | September 29, 2009 at 10:18 AM