WheelTronix

GM may be detaching its bad assets, but it will have to do away with something else also and that is its title as the top-selling brand in America.

This is because Ford is likely to take the first place as the top selling brands in America.

A report from Bloomberg states, “Ford Motor Co., gaining ground on its distressed domestic competitors, may surpass General Motors Corp. this year to become the top-selling automaker in the U.S. for the first time since 1931.”

The Street reported as “Ford reported its smallest sales decline in 11 months, making it the country’s No. 2 automaker in June and raising the possibility that it could move to the top spot.  Ford sales decreased by 11%, while Toyota sales decreased by 33% and at General Motors sales decreased by 34%.”

Some forecaster remark that demand is expected to increase in the approaching weeks as consumers look to take advantage of the government’s Cash for Clunkers program.

Car manufacturers Ford India and Honda Siel Cars India today decreased the prices of some of their makes up to Rs 6,000 a piece.

This is done to pass on the advantage of excise duty reduction on large cars declared in the Budget.

Ford India declared a decrease in the price of its sport utility vehicle (SUV) ”Endeavour”, by Rs 6,000.

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The least fall in the sales of new cars was seen last month since July 2008. This is attributed to the scrappage scheme by the car industry.

Registrations all through the year’s right from 2008 proceeded to go down in June by 15.7% with only 176,264 new vehicles sold. But the 15.7% decrease in car sales is an harbinger of victory for the Government’s £2,000 motivator coming after May’s more prominent 25% fall. June is the 14th month consecutively to have a down slope in new car sales.

Paul Everitt who is the chief executive of the Society of Motor Manufacturers and Traders (SMMT) stated that: “We are beginning to see the positive impact of the scrappage scheme translate into new vehicle registrations.” The SMMT also forecasts the speed of this retrieval will boost in the coming months.

Ford sold the maximum cars in the month of June and its number of cars sold was 29.803 cars which is a 4% increase over June 2008.

India’s Tata Motors has apparently bought British luxury icons Jaguar and Land Rover from US carmaker Ford. It will be officially announced later on Wednesday.

The multi-billion dollar contract is to give Tata a foothold outside the subcontinent. The contract has been figured at up to 3 billion dollars but most news say that the price is around two billion dollars.

A company official stated that the contract will be officially announced later in the day.

This sale of 2 of Britain’s most celebrated industrial firms was supported by Tony Woodley who is the joint leader of Britain’s biggest union Unite.

Woodley stated in a news brief in London that “We would have much preferred Ford to keep the companies in the family, so to speak, especially with Land Rover being so profitable.”
This deal by Tata comes in the midst of an economic downturn which has reduced the demand for prestige vehicles.

This is for the 3rd time this year that Ford has increased its prices and hints that there may be more increase in price to come.
The reason given by the corporate is that the failing of the pound against the Euro had made it obligatory to increase its prices.

In February the increase was by 4.7% followed by 3.5% in April and now it is 4% rise.
This current augment will alter the list price of a Ford Fiesta by £600, by £650 of a Focus and a Mondeo, by £700 of an S-Max and by £800 of a Galaxy.

According to the Managing Director of Ford Britain, Nigel Sharp Ford is responding to the continued weakness of the pound against the Euro. This was followed by most of the UK auto industry. Even with the current support of the pound, the need to improve collected losses due to the weakness of the pound may as well lead to further price increases.

Customers buying any Ford model can now cash in on the recent VAT drop and save up to £500 on a Mondeo, S-Max or Galaxy.

Even the price of the lately established Fiesta drops £200 following the Chancellor’s pre-Budget which cut VAT from 17.5% to 15%.
Not all manufacturer’s are anticipated to follow Ford’s lead with some selecting either to cash in on the VAT savings itself, or re-arrange pricing to more rounded figures.

The Dagenham-based manufacturer has also announced it will introduce the saving immediately instead of waiting for the 1 December 15% VAT starting point.