Tempering the celebratory mood surrounding Ford Motor Co.’s reported $750 million second-quarter profit last week is today’s disclosure vehicle sales plunged 16.5% in July vs. year-ago. The decline, based on daily-selling rates (24 days this year vs. 25 days in 2006), was “sobering,” says Mark Fields, president-the Americas. “We are encouraged by the progress we have made and consumers’ response to our new products,” Fields says in a statement. “At the same time, we know we have a lot of ...

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