Well, it didn't actually report the drop so much as let it slip amidst a bunch of headlines about the fantastic sales of trucks. The F-series trucks (I'm a big Ford truck fan, by the way) led all sales, posting a 22% increase.
Industry watchers and analysts rushed to pardon the drop by blaming high oil prices, so let me be among the first to poke a hole in that lame excuse.
Any of you ever driven these trucks? If so, you'll recognize the BS. Even the littlest F-150 goes through gasoline like Trump goes through Aqua Net. So why would anyone blame the overall sales drop on petrol prices when Ford's biggest gas chuggers are its biggest sellers?
Well, you gotta blame something. After all, everyone was happily applauding last month's goofy raised guidance, so who among the Ford fans would want to admit being snowed by that dog and pony show? Final nail in the oil excuse's coffin before we move on: Gas prices are lower now than they were in May when Ford sold 35,000 more cars.
Here's the real problem: Since late this summer, the firm, along with peers DaimlerChrysler
They haven't, for the most part, though DaimlerChrysler's results today buck the trend. Wait, Toyota
Let's not belabor the point. We've said it over and over. These sales figures, if not proof of a downturn for automakers, are scary enough to make most of them look pretty unattractive, especially Ford. Why shoulder the risk of investing in dinosaurs when there are plenty of smaller, nimbler companies out there with increasing figures on the top and bottom line? Take your investing dollars elsewhere.
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Seth Jayson drives a Ford, but he won't be investing there, thank you. At the time of publication, he had positions in no company mentioned. View his stock holdings and Fool profile here. Fool rules are here.