| Truck Sales Sink with American Economy |
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| Written by Kate Trainor | |
| Tuesday, 03 June 2008 | |
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As gas prices rise, business is down for American automakers. Sales of the most notorious gas-guzzlers, like pickups and S.U.V.s, have fallen significantly, reports Ford. In 2007, pickups accounted for 14 percent of sales to the U.S. market. Presently, they represent a mere nine percent. Following a brash promise that they’d deliver a full-year profit for 2009, Ford has rescinded their claim. Currently, the industry giant is preparing for impending doom: it’s drastically scaling back production and stepping up cost-cutting. Alan R. Mullaly, Ford’s chief executive, said the change appears to be more than a brief reaction to rising gas prices. Instead, the trend could indicate a more permanent downshifting in America’s addiction to cars. According to Ford, the industry demand for cars and trucks is dropping to its lowest point in more than a decade. Souce: The New York Times Photos via flickr by bitzcelt and mcbeth. Comments (0)
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