August 2016 Was A Bust For Ford Sales
The sales numbers are in, and it’s looking like August 2016 was a total bust for Ford Motor Company.
Ford executives confirmed the low sales while also offering the frightening observation that sales have “reached a plateau” and will be “at a lower level” in 2017. Ford elaborated that they are “no longer in a period where we have a lot of pent-up demand coming out of the financial crisis.” Although retail apparently continue at “historically high levels”, the current market has changed for Ford, in ways that the company now expects are set in stone.
“For the remainder of the year, we continue to see retail in the industry provide incentives still running at historically high levels, but down versus the record that we experienced in 2015. Looking ahead to 2017, we continue to see industry sales are strong, but at a lower level than this year.”
Ford added, “Comparisons for the rest of the year are going to be really tough.”
All this, despite Ford, GM and Chrysler increasing incentive spending across the board in 2016.
I’m not exactly sure what this will mean for Ford’s future, but one would anticipate that layoffs are coming, sadly. If projections of sales having officially plateaued bear out, then this could potentially lead to a complete reorganization of the company, which could be even worse for workers. Here’s hoping Ford is able to keep their house in order and manage to get back on their feet.
What do you think of Ford’s troubles? Sound off in the comments!
And for more automotive news, find out why Ford is calling out Tesla over autonomous driving!