Wow. Phil Lebeau looks like he just saw a ghost or something after he read the January sales report from Ford (F). One word: Ugly. Volume sales were down 42.1% in the month. Analysts had been looking for a decline in the low 30% range.
Of course, we love the headline Ford put in the release:
“Strong F-Series, Fusion Sales Drive Ford To Higher Retail Share For Fourth Consecutive Month.”
That is one way to put it. But how soon before Ford asks to tap their TARP money?
Ford: Still No Plans To Tap Fed Cash