Ford Economist:
U.S. auto sales appear to be stabilizing, with fundamentals for buyers gradually improving, said Ford Motor Co. Chief Economist Ellen Hughes-Cromwick on Tuesday, Dow Jones reports. Also, trends for long-term growth in Brazil, Russia, India and China are positive, she said. Hughes-Cromwick was speaking on the so-called BRIC nations at a presentation for the nonprofit Global Interdependence Center held at the Federal Reserve Bank of Philadelphia. Broadly, economic indicators are showing a recovery already underway, she told Dow Jones. "Some of these indicators can be bumpy from month to month," such as the dip in U.S. consumer confidence last week. Ford will see an improvement in sales in 2010, she told the audience, without providing more detail. "The economy will help support the environment" in becoming one that's better than the first half of 2009. Speaking on the "Cash for Clunkers" program, she said that 200,000 people waited for the government initiative before trading in their vehicles. Usually, about 90,000 to 100,000 units are traded in every year.
