Ford looking to Flex for a save
March sales figures were down nearly 10 percent for the automaker. Analysts say it was a cutback in fleet and truck sales that did it, but Ford's hoping its new Flex crossover vehicle will rev up revenues.
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SCOTT JAGOW: Automaker Ford turned in its March sales figures yesterday. Ick. They were down almost 10 percent. Truck sales really fell off. But today at the New York Auto Show, Ford unveils a new vehicle it hopes will turn things around a bit. Alisa Roth reports.
ALISA ROTH: The Ford Flex is a crossover vehicle — the mix between minivan and SUV that’s suddenly become the must-have car.
Crossovers are popular with Baby Boomers, and analysts expect them to stay that way.
They’ve also become the car of choice for soccer moms wanting to escape the stigma of the minivan.
Still, analyst Michael Robinet says this car alone can’t change Ford’s fortune.
MICHAEL ROBINET: It’ll be a portfolio or cadre of vehicles that will allow it to gain a better reception at the dealer-level as well as better margins.
And even the best crossovers may not be the answer to consumers’ dreams. They get better gas mileage than SUVs — but not by much.
In New York, I’m Alisa Roth for Marketplace.