Consumers will have less money to spend on new cars and everything else. Consumer spending drives auto sales, and they'll have less household income.
More Quotes from George Pipas:
In the New Orleans area, many of our dealers are out of business and have lost their entire inventory.George Pipas
If you can sell 100,000-plus Fusions and 100,000 Five Hundreds, you are back in the car business.
George Pipas
I think what has to happen to impact sales is consumers have to come to believe that it (high gas prices) are permanent, not transitory, ... Buying a vehicle is a long-term commitment -- it's not easy to get out of it tomorrow. Gas prices have spiked in some regions in recent years and we haven't seen any significant impact on sales.
George Pipas
Next-generation mid-size cars are an area where boomers will be looking very closely,
George Pipas
This is the first year we have the Fusion in our lineup. So the prudent thing for Ford to do is lower Five Hundred production so we don't end up with an excess inventory of that car at year's end and be forced to sell Five Hundreds not bought by retail customers to daily rental fleets at a large discount. We'll probably sell fewer Five Hundreds in its second full year on the market than we did in its first full year.
George Pipas
October wasn't a very good month for anybody. It was pretty much weak from the start and showed little improvement as the weeks progressed.
George Pipas
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