The company's sales declined 7.5% in the month of January, while analysts had expected only a 2.3% decrease. A number of Ford brand vehicles declined year over year, particularly the Focus, which fell 26%. The Fusion declined 8% and the F-series pickup, the company's best seller, stayed flat at 46,536 sales.
Reports also surfaced on Wednesday that Ford would stop production at its Romanian car factory for four days because of low demand. Ford took over operations of local automaker Automobile Craiova, which had been struggling, in 2008 and started to produce its B-Max model there in 2012. The operation produced more than 68,000 automobiles and more than 250,000 engines in Romania in 2013, but production has stopped for multiple days in each month since September.
The factory, which employs about 4,000 people, will close its car division on Fridays for the rest of February.
Must Read: Why Ford Was Down Monday
TheStreet Ratings team rates FORD MOTOR CO as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate FORD MOTOR CO (F) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, increase in stock price during the past year and impressive record of earnings per share growth. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."