Ford Motor Co. (F, NYSE) said on Friday that U.S. auto sales fell by 9.7 percent for the current quarter compared to a year ago. The company also lowered its North American production estimate by 2.5 percent.
The Dearborn, Mich.-based company says it sold 181,111 light vehicles, putting it in fourth place behind DaimlerChrysler, which sold 186,635 cars, including a 2.9 percent increase for the Chrysler group and a 21 percent rise for Mercedez-Benz. Toyota sold, 196,695, up 16 percent. Meanwhile, GM sold 297,556 vehicles, up 5.8 percent.
It is the second time that Toyota has beaten the Ford in terms of number of vehicles sold. The firm said individual car model sales for its Fusion, Mercury Milan and Lincoln MKZ mid-size sedans were up.
Ford, which seeks to return to profitability in 2009 this week secured an $18 billion loan to help sustain the liquidity its business. Showing progress in its effort to cut costs, the firm also announced this week that 38,000 employees had agreed to a buy-out package.
Fordâ€™s share price dropped 0.13 cents or 1.6 percent to close at $8.00 on early Friday afternoon trading in the New York Stock Exchange.