Ford has decided to increase its third-quarter production by 16 percent, prompted by an uptick in demand from June sales, the company said Monday.
June auto sales, which will be announced tomorrow, are expected to be much higher than May sales. Ford originally wanted to increase production 10 percent.
"The worst is behind us," said George Pipas, Ford’s sales analysis manager. "We may see economic growth in the second half and a higher level of auto sales."
Ford said it had a good month in June, so it is now increasing production.
Pipas said June sales figures could represent that the automotive market has hit bottom and may start increasing in the second half of the year, USA Today reports. Pipas also said high rebates from Chrysler and GM, who both filed bankruptcy, may have helped June sales increase.
"Consumer confidence is improving, and market uncertainty is starting to decline, which has made consumers more willing to take advantage of deals on new vehicles," said Gary Dilts, senior vice president of global automotive operations at J.D. Power.
If you’re in the market for a vehicle, remember that when demand increases, prices usually go up and incentives go down. There are still really good deals on most vehicle brands right now though.
