Ford sales continue to decline:
U.S. auto sales continued their slide in August despite stepped-up incentives to buyers, with Ford Motor Co. posting a 27% drop from a year earlier as sport-utility-vehicle sales plunged 53%.
Ford also lowered its second-half North American production forecast and revised its overall industry forecast to the low end of its range.
"We expect the second half of 2008 will be more challenging than the first half, as weak economic conditions and the consumer credit crunch continues," said Jim Farley, group vice president of marketing and communications.
Just as car purchases lagged oil prices on the way up, I'd expect them to lag on the way down.
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