A brilliant quarter for Ford. The company is coining money. Mike Jackson CEO of AutoNation, predicts the firm will sell 100,000 cars this year. Domestic car production is running at 13 million units. But autoland is still running scared.
Jackson says the mix he is selling is shifting gradually away from SUVs and minivans to cars. Toyota, Honda and Nissan say they will not be back to normal production until November, though the situation is worst in Japan.
Suppliers are busy but skittish about buying more equipment because of the earthquake/gasoline combination reducing production. The fear is that by the time the earthquake issues stabilize, $5 gas could be biting.
Personally, I expect gas prices to go the other way. Jackson sees us ramping up to 16 million units. Let’s hope he’s right. Pickup trucks for business are still selling despite the continuing construction depression. Meanwhile, Buick sold 3 million units since 1999 in China.
Question: Are you driving less now?