UPDATE: Ford (F) CEO Fields Says Sales Slowdown is 'Concern' for Investors; Sees Cars as Part of IoT
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(Updated - September 28, 2016 9:20 AM EDT)
Ford Motor (NYSE: F) CEO Mark Fields says sales slowdown is "concern" for investors, according to Bloomberg. The executive said retail auto sales are coming down.
UPDATE - Fields also said investors are concerned about technology companies entering the automotive sector. He noted that Ford wants to lead in connectivity and autonomy, and that the company's cars are part of the Internet of Things (IoT).
The CEO noted that spending for future will hurt FY17 results.
Shares of Ford are indicated higher in early trading.
Notably, Ford recently announced that it will release its September 2016 U.S. sales results at approximately 9:15 a.m. ET Monday, October 3, 2016. At 10:00 a.m. ET, Erich Merkle, Ford U.S. sales analyst, will host a conference call for the investment community and news media to discuss the results and related market trends. He will be joined by Mark LaNeve, Ford vice president, U.S. Marketing, Sales and Service, and Emily Kolinski Morris, Ford's chief economist.
Conference Call Access Information
Toll Free: 1-877-870-8664International: 1-970-297-2423Password: “Ford Monthly Sales Call”
The conference call also will be webcast live, on a listen-only basis, at www.shareholder.ford.com.
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