Sales boost offers hope for auto sector
Wednesday, 5 August 2009
PARIS, Aug 4 (AFP): Rising car sales are offering a glimmer of hope for the depressed international auto sector, but analysts stress that the positive data is largely dependent on temporary government bonus schemes.
The auto sector was one of the first to be hit by the global economic crisis because of a collapse in demand for cars and it is being closely watched by economists as an indicator for any signs of economic recovery.
In the United States, Ford Motor Co. reported Monday its first increase in sales in almost two years, posting a 2.3 percent increase in total sales in July to 165,279. Retail sales at its core brands -- Ford, Lincoln and Mercury -- rose nine percent to 118,197 vehicles.
The auto sector was one of the first to be hit by the global economic crisis because of a collapse in demand for cars and it is being closely watched by economists as an indicator for any signs of economic recovery.
In the United States, Ford Motor Co. reported Monday its first increase in sales in almost two years, posting a 2.3 percent increase in total sales in July to 165,279. Retail sales at its core brands -- Ford, Lincoln and Mercury -- rose nine percent to 118,197 vehicles.