Jim Cramer Says Auto Market May be Reaching a Plateau

Jim Cramer says Ford CEO Mark Fields told him at the end of June that the 'market isn't that bullish for North America' and Thursday's quarterly report reflects those comments.
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TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer says Ford (F) - Get Report CEO Mark Fields told him at the end of June that the 'market isn't that bullish for North America.' 'I think that autos are plateauing, I don't think they are going down.' Cramer referenced Real Money's Doug Kass who has been very vocal about the auto industry and whether the auto market is nearing its' peak. Ford posted profits of $0.52 a share, $0.08 a share lower than expected. Revenue came in at $39.5 billion. The country's second-largest automaker says it remains committed to the financial guidance it has already given Wall Street. Ford's CFO bob Shanks says there are heightened 'risks' to the company's performance which could be the result of a 'plateau' in demand.