We’ve been wondering if Ford’s decision to forgo bailout cash helped the company. They avoid the tough spotlight that comes with getting government dollars, but at the same time, they miss out on billions of dollars. Are they cutting off their nose to spite their face? Apparently not:
Ad Age: “Times like these can provide opportunities for us to distance ourselves for the long term,” said Ford’s Ken Czubay, VP-sales and marketing. “We are doing fine from a conquest standpoint.”
Indeed, in the first two months of the year, the number of qualified buyers who planned to buy a Ford jumped 16% from 2008, CNW said. Qualified buyers who intended to buy GM fell 12% and Chrysler 33%.
Of course they could have 100% of the market, if nobody is buying cars, then it doesn’t really matter much. And while the company is gaining market share, its sales are still plummeting. Reports Ad Age: “Ford, Lincoln and Mercury’s U.S. sales plunged 48% to 96,044 units vs. February 2008.”
So, there you have it. From a conquest standpoint they’re doing awesome. From a sales standpoint, it’s a different story. In the long run perhaps Ford will be in the best position, but in the short run they’re getting pinched just like everyone else.
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