Ford Motor Co to report US sales increase for July

Reuters are reporting that Ford Motor Co will report a raise in sales following the government’s “Cash for Clunkers” scheme. Following the current economic climate it seems that July marked “ Ford’s first year-over-year monthly rise since November 2007”. While this is great news for Ford it is also great news for the economy in general.

Ford’s U.S sales chief Ken Czubay recently said “It was a deep hole that the entire economy was in, we may not be out of the hole, but we are seeing very encouraging signs in July.” According to Ken the beginning of July showed steady sales which were looking promising, however when the Cash for Clunkers scheme was announced in late July there was a substantial growth in business.

Whether this growth is going to continue is hard to say, however with many different industries seeing a rise in business it seems perhaps things are getting back on track. Check out Reuters for the full article.