Ford Sees “Tipping Point” In Sales Of Trucks And SUVs
The combination of record high fuel prices and continuing difficulties in the housing sector has further accelerated the shift away from large pickups and SUVs to small and medium-sized cars and crossovers. We saw a real change in the industry demand for pickup trucks and SUVs in the first two weeks of May. It seemed to us that we reached a tipping point where customers began shifting away from these vehicles at an accelerated rate.
– Alan Mulally, CEO Ford
That’s Ford (F) CEO Alan Mulally on a conference call this morning reviewing the company’s business plan.
Just another piece of evidence that the US consumer is getting squeezed and it is effecting his spending decisions.