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Chief Executive of Ford Europe Stephen Odell poses after the presentation of the new Ford Tourneo Courier car at the Ford stand during the first media day of the 83rd Geneva Car Show at the Palexpo Arena in Geneva March 5, 2013.
Chief Executive of Ford Europe Stephen Odell poses after the presentation of the new Ford Tourneo Courier car at the Ford stand during the first media day of the 83rd Geneva Car Show at the Palexpo Arena in Geneva March 5, 2013.
(Denis Balibouse/Reuters)

FINANCIAL TIMES

Foreign markets keep auto makers stuck in neutral

Lex is a premium daily commentary service from the Financial Times. It helps readers make better investment decisions by highlighting key emerging risks and opportunities.

Domestic car makers have led the U.S. economic recovery. U.S. car sales, powered by cheap credit and an ageing vehicle base, are projected to reach 15.4 million units in 2013, which equates to 10 per cent annual growth since the market hit bottom in 2009, when just 10.4 million units were sold. (Note: a decade ago annual sales consistently hit 17 million units.) Yet the sales rebound is not doing much of late for share prices as, unfortunately, General Motors and Ford must ride along with a bumpier global economy.