On Wednesday A top executive said that Ford Motor Co (FN) is closely watching their inventories and waiting to see if the U.S. government of "money for Clunkers" program was extended, but do not plan to announce any decisions on production until early September,
Lewis Booth the Chief Financial Officer of FORD, told to reporters that they are going to continue to manage their production to keep their inventory in control
Booth said Ford needs to assess the production and release of this month a decision on any change in production Schedules in early September to publicize the August U.S. sales figures.
The "clunkers" incentive program has run through most of its allocation of $ 1 billion since it began on July 24, but on Thursday the U.S. Senate Is expected to vote for final the approval of an extension of 2 billion U.S. dollars for the program then go to President Barack Obama that was signed into law.
In the U.S. July Ford posted a 2 percent increase in sales, supported by the program, since November 2007 its first year on year monthly increase, which offers up to $ 4,500 to convert to a customer in a low mileage vehicle that is scrapped, and the purchase or lease a new vehicle.
The Ford Focus compact car is a major purchase of new vehicles to customers in a commercial vehicle in the U.S. "clunkers" program. As per Honda Motor Co Ltd (7267.T) Civic has been one of the main sellers and Toyota Motor Corp of (7203.T) Corolla has been the top seller.
Ford is the only major automaker in U.S. has not gone through a government-sponsored bankruptcy this year, had fewer than 50 days of inventory at the end of July.
Lewis Booth said that it will be taking some time to determine how much of Ford "clunkers" program of sales to customers who would otherwise not buy new cars and understand production schedules for the remainder of 2009.
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