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Ford Raises 2012 Outlook for American Auto Market
Ford Motor Co. has hiked its forecast for industrywide U.S. vehicle sales 5% to 14.5 million-15 million units, including medium- and heavy-duty trucks, says Mark Fields, president of the company's Americas unit.
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Ford Motor Co. has hiked its forecast for industrywide U.S. vehicle sales 5% to 14.5 million-15 million units, including medium- and heavy-duty trucks, says Mark Fields, president of the company's Americas unit.
That equates to a light vehicle range of 14.2 million units to 14.7 million units compared with 12.8 million units in 2011 and an annualized rate of 14.6 million units in the first three months of this year.
Fields tells reporters at the New York auto show that Ford expects low interest rates, rising consumer confidence and the improving job market to continue to buoy auto sales.
The company originally predicted its U.S. market share would hold steady at 16.8% this year. But Fields warns that Ford's market share is likely to slip because it won't be able to immediately produce enough vehicles to meet stronger demand. He says the company plans to add 400,000 vehicles to its 2012 North American production schedule. But most of that won't occur until the second half.
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