Carmakers expect better second half

Executives at the world’s two largest automotive companies, General Motors and Ford Motor Company, are optimistic about car and truck sales in the second half of 2003. GM CEO Rick Wagoner said he expected the U.S. market to improve over the next months; especially in the fourth quarter, according to a published report. A spokesperson at Ford said the company expected stronger demand in the second half in Europe. Both companies base their optimism on strong signs that the U.S. and world economies are in recovery mode.
Financial analysts cautioned, however, that car companies are still struggling to make money in a buyer’s market loaded with incentives.