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Dealers' Storm Stories (10/30/12)

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  1. New Jersey1:09
  2. Cherry Hill1:08, 1:30
  3. Alan Mulally3:04
  4. New York City0:55
  5. market share2:51, 2:54, 3:12
  6. reliability survey3:54
  7. skeleton crews1:03
  8. vehicle supplies2:07
  9. store's inventory1:34
  10. market share losses3:16

Tue, 30 Oct 2012|

In Sandy's wake: Shuttered stores, skeleton crews and struggling families; Ford's 'share' sacrifice?; Mulally's disappointment.

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Automatically Generated Transcript (may not be 100% accurate)

-- impact. The massive storm continues to cause problems for dealerships along the East Coast. In update next. Thanks so much for joining us on this Tuesday. By now you've seen the images and videos of the destruction super storms sandy has left in her way. Officials up and down the eastern seaboard say they won't know the full extent of the damage for days. In the same applies for auto dealerships in the region. We tried to reach some by phone but we heard quite a bit of this. -- -- Also get deputy now. But we did manage to speak with a few dealers. Bruce spent Dell who we visited earlier this year has several dealerships across New York City. And because standing forces city leaders to shutter riches and the subway system. He only has skeleton crews working at some stores. Meantime at Cherry Hill Volvo in New Jersey the story is fine but the homes of many employees. Are not. Today we're totally clear. How many people how many people are are inundated with -- and are without electricity. That's store president Judith -- crop there despite the flooding of homes all of Cherry Hill staffers are safe. So is the store's inventory. In the computer system is okay to. We are up. IRA -- trying to walk to JD talked widget right banks and -- If you are dealer who is contending with sandy we know you worked extremely busy right now. Please feel free to email your story in pictures to me the address is T war back at Crain dot com. Meantime black book which among other things provides a vehicle pricing information. Since sandy you may place more stress on used vehicle supplies. As consumers look to replace vehicles damaged in the storm. Black book says that dealers throughout the northeast. May need to source used vehicle inventory from other regions. Causing a supply ripple effect in other parts of the country. And that means prices on some used car models may rise slightly in the near term. As we told to this morning on the first shift. Ford today reported a third quarter net profit of one point six billion dollars. Driven largely by a strong performance in its home market North America. Ford's North American operating margin a record 12%. But what about market share. Through September Ford's US market share had fallen to fifteen point 5%. A year ago it was sixteen point 8%. And CEO Alan Mulally says don't expect it to rise this year. Has -- previously. They expect you invest in Europe for your market share the lower compared with 2011. Some of Ford's market share losses reflects the rebound of Japanese -- But Ford vehicles are also commanding higher prices. Which means more profit for each car sold. According to true cart dot com the average price of consumer paid for a Ford model was more than 32000. Dollars last year. Five years ago it was less than 29000. One other fort note. Clearly. Is disappointing. That was Malone he's reaction to Ford's poor showing in the latest consumer reports reliability survey. He says the company has fixes in place to address complaints about its my Ford touch input payment system and the transmission for small cars. With a -- understand and be back we have gotten with the new technology is really important to us and we're gonna continue to continuously improve gall report. That is our time for today tomorrow morning I'm per -- are Jesse Snyder previews October sales. We'll see you back here tomorrow afternoon.

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