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Ford CFO: U.S. Auto Sales May Be Below Expectations

Ford CFO: U.S. Auto Sales May Be Below Expectations

The chief financial officer of Ford Motor Company said recently that auto sales in the U.S. may not even reach the low end of the company's estimates for 2011, Bloomberg reports.

According to the news source, Ford CFO Lewis Booth, speaking at a UBS conference in London, said that the automaker had projected industry sales of between 13 and 13.5 million vehicles in the U.S. in 2011. However, there have been recent indications that these expectations may not be met.

"We see signs of pent-up demand," Booth explained. "What it’s going to take for that pent-up demand to emerge is some confidence in what the future will look like."

Booth added that Ford had predicted the U.S. economy would recover at a limited clip, "but we didn’t expect it to be quite as slow as it’s been," Bloomberg reported.

The less-than-optimistic remarks from Ford's finance chief come just weeks after the Commerce Department reported orders for motor vehicles and parts increased by 9.8 percent in July, the largest monthly gain since January 2003, according to The Associated Press.