Ford quarterly earnings expected to dip on slipping SUV sales, high gas prices

When Ford Motor Company reports its first quarter earnings tomorrow, the automaker is likely to report a decline thanks to a huge drop in SUV sales and diminishing market share. Analysts say that Ford’s dependence on big SUVs, combined with surging gas prices have negated any effect so far of Ford’s”Way Forward” plan, which will close 12 plants and cut 30,000 jobs over the next six years.

By Erin Mays
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When Ford Motor
Company reports its first quarter earnings tomorrow, the automaker is likely to report a decline thanks to a huge drop
in SUV sales and diminishing market share. Analysts say that Ford’s dependence on big SUVs, combined with surging gas
prices have negated any effect so far of Ford’s “Way Forward” plan, which will close 12 plants and cut 30,000
jobs over the next six years.

For its part, Ford’s Mark Fields, architect for the “Way Forward,” is urging critics to give the plan
time to kick in.

[Source: Bloomberg.com]