Ford still doesn’t need Obama’s payday loans
Payday loans of the gargantuan sort may or may not be enough to fix the trouble that America’s automobile industry is facing. It is no stretch of the truth to say that the automakers are responsible for the mess they’ve made, and most have been all too eager to beg at the door of big government for handouts to keep their parties of excess going.
Yet not all automakers prostrated themselves in a mock display before government. Ford, for instance, decided to gird up their loins and go it alone. And if Associated Press reports are an accurate indication, they may have found the sales light at the end of the tunnel.
Credit is available
Sales have been in a nosedive for months for Ford, which is hardly out of place in the current economic climate. However, Jim Farley, the automaker’s global marketing chief, has said that adjusted new sales demand has “held steady” since November. Used sales have come “roaring back” since January. The implication, notes Farley, is that credit, from bank loans to credit cards and cash advance, is available for consumers.
According to the AP, U.S. new car and truck sales dropped by 37 percent in January 2009, so Ford’s optimistic outlook hasn’t caught on. However, one analyst (Erich Merkle) believes that we’ve reached a plateau. “We’re really at that crucial inflection point right now. And with all the money right now that’s being pumped into the system … I think that we’ll start to see some revival in our economy and we’ll start to see sales on a sequential basis exceed that of the first quarter,” Merkle said.
Second half of 2009?
That’s what Merkle predicts. Farley hasn’t been that specific, but he did acknowledge that February sales indicate a similar positive trend. Positive as in no continued drop, that is.
In January, Ford sales fell 40 percent in the United States, but F-series pickups and Fusion sedans provided enough of a boost to continue their market share increase for the fourth straight month. New products like the Harley-Davidson F-150 and Transit Connect van have increased expectations, but perhaps their ace in the hole will be the much-improved 2010 Taurus. With EcoBoost technology, Ford claims the engine will combine V6 economy with V8 power.
Ford shares up; will they drive it home?
Of course, no automaker is out of the woods yet. It remains to be seen whether such gains will continue, or whether Ford will have to go to the government payday loans well like their less competent business competitors. Cash Advance Mojo wishes Ford well, and reminds you that if you find yourself in an emergency cash situation, payday loans can help until your next pay period.
Related articles
- Officially Official: 2010 Ford Taurus SHO! (autoblog.com)
- Ford Officially Looking To Sell Volvo [Carpocalypse Now] (jalopnik.com)
- Ford better positioned to ride out recession (msnbc.msn.com)
Good for Ford! I thought it was very admirable that they didn’t wait until they were almost bankrupt to go to DC, but instead just wanted a line of credit open in case. There may be hope for Detroit yet! Well…maybe not the Lions.