Ford Mustang Sales Down 50.1% in November

Today Ford released sales figures for the month of November. For starters, sales of the Ford Mustang were down 50.1% when compared to sales of the Mustang in November 2007. Ford sold 3,667 Mustangs last month. In November 2007 they sold 7,352. But wait, there's more. For the year as a whole, Ford has sold 87,224 Mustangs, down 30.9% from the 126,311 Mustangs they had sold last year at this time.

This news follows the announcement that Ford submitted its comprehensive business plan to Congress this morning. According to the plan, Ford expects both its overall and its North American Automotive business pre-tax results to be breakeven or profitable in 2011. They also announced an end to execs using its private jet. Ford said it will sell its corporate aircraft as part of its overall cash improvement plan. Also the CEO's are willing to work in 2009 for a salary of only $1. This appeal to Congress is to back up Ford's request to access to up to $9 billion in bridge financing. Ford reiterated that it hopes to complete its transformation without accessing the loan should Congress agree to make the funds available.

It's good to see the CEO's are willing to make sacrifices in order to help the company.

What ticks me off is the senator that made the now famous comment about the big 3's private jets probably got into one himself when things were done. I highly doubt that upper tier government officials fly commercial, they either go charter or private I'm sure. Oh, the hypocrisy!